2020 was anything but typical—and not in a good way. From a worldwide pandemic and related economic uncertainty to a tumultuous election, most of us were ready to lock the door and throw away the key when the calendar hit 2021. But one thing is for certain; the Phoenix housing market has been booming in recent months due … [Read more...]
3 Reasons to be Optimistic About the 2021 Real Estate Market
3 REASONS TO BE OPTIMISTIC ABOUT THE 2021 MARKET BY SCOTT CASTILLODECEMBER 31, 2020 2021 was an all around tough year. Although the Covid-19 pandemic brought the market to a near standstill for months, a quick recovery soon emerged as many homeowners reevaluated their space and what they need in a home going into … [Read more...]
Demand For AZ Homes is up 36%!
For Buyers: The Rent vs. Buy scenario has become heavily in favor of buying over the last 5 months. Eviction moratoriums due to the pandemic have greatly reduced turnover rates in a rental market that is already short of supply. Lease rates on listings through the Arizona Regional MLS have increased … [Read more...]
Median AZ Sale Prices Up 18%
For Buyers: A common complaint in the resale market is “there’s nothing for sale”. However, from July through September, the Realtor® community added 30,340 brand new listings to the Arizona Regional MLS and sold 27,746, leaving just 8,203 remaining listings for sale. That makes this 3rd Quarter the 2nd best in … [Read more...]
Arizona and National Real Estate Updates
National Real Estate: Residential real estate is providing the most significant boost to the economy. While other industries struggle residential real estate is going gangbusters and is a part of the solution. “Perhaps in the middle of 2021, we will have more semblance of a balanced market.” Dr. Lawrence Yun, NAR … [Read more...]
Brokerage Survey: 45% of Contracts Are ‘Sight Unseen’
Virtual tools have helped home buyers feel more comfortable shopping online to choose a home and even make an offer, without first stepping inside. The real estate brokerage Redfin says the trend of “sight unseen” offers is reaching record highs. Redfin reports that 45% of its consumers who purchased a home in the past … [Read more...]
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