Phoenix House Prices Aren’t Crazy When You Account for Mortgage Rates & Income
The huge house price increases so far could be explained by, 1) falling mortgage interest rates, and 2) rising incomes.Read more
Phoenix House Prices Still Increasing FAST
Phoenix housing market still insanely hot but not getting any hotter anymore. According to The Cromford Report, the metro Phoenix sold price per square foot in mid-March was up 3.1%… from mid-February. 30-year fixed-rate mortgage rates bottomed out at 2.65% in early January. Last week, rates were 3.09%. Will house sales slow down because of…Read more
Peak Phoenix Real Estate Boom? – Phoenix Real Estate Stops Getting Boomier
We’re probably a year or two away from a “normal” market but at least things appear to have stopped getting worse.Read more
Phoenix House Prices Up 21% – Likely Up 30% By June
In February, the number of single-family houses hitting the market was LESS than in February 2020, despite prices being 21% higher than in February 2020.Read more
2 Years Ago, Phoenix had Nearly 5 Times More Houses for Sale!
We MIGHT be seeing the beginning of some resistance from buyers to the difficulty of buying with so few houses for sale, and with much higher prices.Read more
Phoenix Median House Price Up 17% in 1 Year & Up 29% in 2 Years
With No Signs of Slowing Down I’m just going to update the graphs today but not discuss them since today’s my birthday. Getting calls from my out-of-state sibs and going to my brother’s house for lunch! I could talk for a week about today’s market but not today. The Phoenix MLS updated their official data…Read more
Are Potential Sellers Riding the Wave of Appreciation and Waiting to Sell?
A lot fewer houses are hitting the market even though house prices are up 19% from last year.Read more
The B-Word – House Prices Up 19% in 2020 – Likely Higher in 2021!
Demand is strong but what’s really launching house prices is the very low number of houses hitting the market.Read more
The Fed Started the Fire – Now It’s Out of Control
Phoenix median house prices are more expensive than last January even accounting for the lower mortgage rates.Read more
It’s Time to Declare a National Housing Emergency
The last 6 months, the average sale price per square foot has risen at a 31% annual pace, and we’re just at the beginning of the high season now.Read more