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 [...]
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phoenix real estate
The November Cromford Report Monthly Market Review started off with the following summary for the Phoenix real estate market for single family housing: In every price range, sales prices in $/SF are now higher than a year ago. Inventory is still falling below $200,000 and constraining sales volumes. Above $200,000, supply is rising and demand remains [...]
A quick look at the most recent ARMLS Stat Report shows that buyer interest and willingness to pay are definitely creeping up. In the chart above, you can see that percent of home sales in Greater Phoenix is shifting. Sales are down in homes price $100,000 and less, while increasing in price ranges of $150,000-200,000 [...]
From Michael Orr at the Cromford Report, and courtesy of Allison Hudgins at Old Republic Title Agency, here is the latest update for single family homes, by price range, for the Greater Phoenix real estate market. Market Headlines A big contrast exists between the market under $200,000 and the market above that figure Enthusiastic buying [...]
Old Republic Title Company hosted a big event yesterday, where Mike Orr of the Cromford Report gave a presentation. I’d planned attend the event until a Canadian buyer asked me to write a contract right before they headed home. Good news is that, my wonderful contacts at ORTC, emailed me the presentation last night. The [...]
The Cromford Report™ just published the latest Monthly Market Review for Single Family Homes, which give some hopeful news about Greater Phoenix real estate. Market Headlines The market is very strong below $100,000 and in good shape up to $200,000. Above $200,000 the market continues to deteriorate slightly. Average sales price per sq. ft. is [...]
The percentage of Phoenix area homes purchased with cash has dropped off from the all time high set in January this year. Overall the percentage remains much higher than the prior norm of 10%. Today, 1 out of every 3 properties purchased in Phoenix, is done with cash. More about our local real estate market: [...]
