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2021-10 Phoenix Real Estate Snapshot

By Matthew Hoedt - October 14, 2021
The End of Forbearance is Not the End of a Seller Market Supply Up 93% Since April, Prices Continue to Rise     For Buyers: The housing supply shortage is still in full swing, and there is online speculation that the end of forbearance may be the source of relief as some homeowners may need to sell.  According to Black Knight, the national number of mortgages in forbearance has

City Rankings By Affordability September 2021

By Matthew Hoedt - September 17, 2021
This table ranks the cities of Greater Phoenix by their annual average sales price per square foot. Only single family detached homes are included in these numbers. Information for the 12 major and 17 secondary cities is current as of the date shown.  The primary function of this table is to show the least and most affordable areas in the Phoenix metropolitan area together with longer term p

2021-09 Phoenix Real Estate Snapshot

By Matthew Hoedt - September 11, 2021
Contract Activity Spiked 20% In This Price Range Luxury Sellers Over $1M Enjoying a Hot Summer   For Buyers: Buyer demand has rallied sharply over the past 4 weeks, which is unusual for this time of year.  The rally is exclusively between $400K-$800K, spiking nearly 20% in contract activity since the end of July.  We have to wait until the transactions close and record to identi

2021-08 Phoenix Real Estate Snapshot

By Matthew Hoedt - August 12, 2021
Supply Up 42% Since May, Price Reductions Up 131%, Affordability Dips Below Normal to 56%   For Buyers: There is a little relief ahead for buyers in Greater Phoenix.  Supply continues to rise in price points between $300K-$1.5M and buyer demand has settled into a normal seasonal cool down that is expected to last through the end of the year.  What this means for buyers is the 2n

2021-08 Phoenix Real Estate Market Update

By Matthew Hoedt - August 12, 2021
How's the market? A monthly video update on what's happening in the Greater Phoenix Real Estate Market. This month: Are we going to have another market crash? Watch to see why that's very unlikely.    

2021-07 Phoenix Real Estate Snapshot

By Matthew Hoedt - July 09, 2021
What’s Ahead for Sellers as Demand Weakens, Median Sales Price Up 29%, Fewer Contracts   For Buyers: Buyers with budgets over $300,000 may be noticing that they have more listings to choose from compared to a few months ago. This is especially true in the price points between $400,000 and $800,000 where inventory has grown 92% since February. When a buyer has, for example, 4 or 5 h

City Rankings By Affordability June 2021

By Matthew Hoedt - June 14, 2021
This table ranks the cities of Greater Phoenix by their annual average sales price per square foot. Only single family detached homes are included in these numbers. Information for the 12 major and 17 secondary cities is current as of the date shown.  The primary function of this table is to show the least and most affordable areas in the Phoenix metropolitan area together with longer term p

2021-06 Phoenix Real Estate Snapshot

By Matthew Hoedt - June 14, 2021
Should Buyers Wait to Buy? Median Sales Price $390K, up 32% from 2020     For Buyers: There’s a lot of conflicting advice for buyers online these days, and there’s no shortage of headlines advising them to wait. Many authors cite the unpleasantness of multiple competing offers and rising prices as the reason to wait out the market. This is despite their acknowledgment th

2021-05 Phoenix Real Estate Market Update

By Matthew Hoedt - May 31, 2021
How's the market? A monthly video update on what's happening in the Greater Phoenix Real Estate Market. This month: don't rely on generic data when deciding whether to buy or sell!      

2021-05 Phoenix Real Estate Snapshot

By Matthew Hoedt - May 11, 2021
62.8% of Homes Sold Considered Affordable Last Quarter, Median Sales Price Up 27%, Incomes Up 26%   For Buyers: Despite all the incredible news about rising real estate prices, a family making the median income of $79,000 in Greater Phoenix could still afford 62.8% of what sold in the first quarter of 2021. The National Association of Home Builders (NAHB.org) assumes that “a family

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