Interest Rates impact Buyers As we attempt to cover the Phoenix real estate market, It is very evident that higher interest rates have an effect on buyer sentiment and demand. Every 1% rise in interest rates increases the loan payment portion by 10%. Buyer demand has been supressed with most cities seeing a 10% –
Let’s sit back and take a look at what happened in 2023 in the Phoenix real estate market. There was a lot going on! Prices bottomed out at the beginning of 2023. Speculation on what the Federal Reserve was going to do was a daily discussion. Pundits were obliged to opine on what this would do to inflation and interest rates. Like I said, what a year!! And the big question, what did all of this do to prices and home sales. Buck up because that’s exactly what we’re going to discuss.
What happened in real estate this year? This year has been like the last couple of years in the Phoenix real estate market, loaded with change. That’s the only constant. We need to look at the 2023 Phoenix real estate market update YTD. In particular, we are dealing with the effects of higher mortgage interest
2022 Phoenix Real Estate Market Update The Phoenix real estate market in 2022 was quite a ride! Appreciation in the first half of the year was followed by falling prices in the last 6 months. The result was that prices at the end of the year were roughly where they began at the first of
How’s the Phoenix Real Estate Market started off in 2022? Has the trend of multiple offers within 48 hours waiving appraisals and inspections continued through the first half of 2022? What has the increase in interest rates done to buyer demand in the Phoenix real estate market? And has this affected home sale prices throughout
Phoenix 2022 Outlook & 2021 Real Estate Review What a year 2021 turned out to be! And now our focus turns to 2022 and what changes we’ll see in the Phoenix real estate market. Predictions are always difficult but identifying the underlying driving factors is a good place to start. Let’s review what happened in
Housing Market Review and Predictions We are now entering the post pandemic real estate market and there is a mountain of speculation what it will look like. The word “crash” is used frequently as well as “bubble”. As the economy returns to as normal as it can under the current economic and government policy, buyers
2020 Phoenix Real Estate Market Review & 2021 Forecast On to another year that will see a change for the better in regards to COVID19! With herd immunity and vaccinations rolling out, there is reason for optimism. How did the Phoenix real estate market fare in 2020? And what can we expect for 2021 with
Phoenix Real Estate Market Update – First Half 2020 Who could have predicted such a crazy six months as we’ve seen in the first half of 2020. COVID-19 has made everyone sit back and wonder if there is any normalcy left in the world. The pandemic and the associated events have left many wondering how
Has the coronavirus or COVID-19 put the real estate market in the ICU? The coronavirus or COVID-19 has taken everyone by surprise and the effects of this pandemic will not be totally understood for months or years to come. However, we can see the effects of this virus on Phoenix real estate in the past
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