Yes, Arizona real estate is on the upswing. Take a look at this chart from Mike Orr at the Cromford Report. In February 2010, Arizona was one of the top-ranked (not a good thing) states in distressed properties: Non-current home loans –# 3 (after FL, NV) Late but not in foreclosure –# 6 (FL, NV, [...]
From the category archives:
Real Estate
Look at this chart for a striking view of the amazing free fall of total home inventory in Phoenix during 2011. The heavier line shows that from a high of 42,881 in January to a low of 24, 712 in December, housing inventory has dropped over 40%. No wonder buyers are saying things like, “I [...]
What a way to start the year on a positive note! Here’s the latest Phoenix real estate market update from the Cromford Report: Except above $800,000, sales prices in $/SF are now higher than a year ago. Inventory is falling again for all price ranges. Above $400,000 demand remains relatively weak. Lender-owned inventory is still [...]
Funny how fast prices can change. Realtors in the Phoenix and Scottsdale areas have been predicting price increases for at least the last six months. And look what we find today: 10 Cities Where List Prices Soared Last Month Number 2 on the list is the Phoenix-Mesa MSA (Metropolitan Statistical Area), of which Scottsdale plays [...]
Interest rates in Scottsdale are truly remarkable this month. Jay Thompson, aka “The Phoenix Real Estate Guy”, published an update to his interest rate chart a couple days ago showing interest rates at 4%, the lowest rates in the 40 years tracked here by FreddieMac. Personally I can share that the last two contracts I [...]
The Arizona Regional MLS publishes a monthly agent survey on agent (“subscriber”) confidence, both present and for the future. From the Subscriber Confidence Index – December 2011 report: Similar to the Consumer Confidence Index published by the Conference Board, its relevance lies in being the only economic indicator derived from the firsthand, up close observations of [...]
A home buyer recently asked me for my perspective on the Forbes list of 13 Cities Where Home Prices Are Falling Dangerously, where Phoenix is listed as one of the “13 cities that suffered relatively big home price hits this year with more projected through the next 12 months.” From what I’ve been seeing in [...]
