real estate market: Is There A CHANGE In the Wind?
- 06/05/22 07:21 PM
Are there CHANGES In WINDS of REAL ESTATE? Is a slowing coming in the string of all time record Phoenix metro median high SOLD prices? Mortgage rates are rising. The slowing did not occur in May 2022 with another all time Phoenix metro record high with sold prices of $475,000. Don't expect a reduction from the median of $475K soon in June for homes that went under contract in May. (Image by Gerd Altmann from Pixabay) However, there are signs that a slowing (maybe not a downturn) of home price increases may be approaching. Catherine Reagor the Real Estate Reporter for the … (9 comments)
real estate market: Home Sales Rise as Number of Homes on Market Improves
- 08/30/21 09:16 PM
The numbers: Existing-home sales edged higher as the inventory of homes for sale grew, giving buyers some more breathing room in a tough market as reported by Jacob Passey on August 23, 2021 in a Market Watch article on Realtor.com Per, Mr. Passey, "Existing-home sales rose 2% to a seasonally-adjusted, annual rate of 5.99 million in July, the National Association of Realtors said Monday. Compared with June 2020, home sales were up 1.5%. Economists polled by MarketWatch had projected existing-home sales to come in at 5.83 million. The median sales price of an existing home was up 17.8% year-over-year at $359,900, but was … (2 comments)
Buyers are Buying homes! Foreign home buyers and new immigrants reached new record level of $153 billion for homes purchased in the US over the past year per the National Association of Realtors.
Prices are going up in the US real estate market but mortgage rates are still low for now. The saving grace for buyers? Mortgage rates. A fixer upper or a newer bargain home perimeter cities or re-development areas can still be … (0 comments)
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Jeff Masich-Scottsdale AZ Associate Broker,MBA,GRI
Are there CHANGES In WINDS of REAL ESTATE? Is a slowing coming in the string of all time record Phoenix metro median high SOLD prices? Mortgage rates are rising. The slowing did not occur in May 2022 with another all time Phoenix metro record high with sold prices of $475,000. Don't expect a reduction from the median of $475K soon in June for homes that went under contract in May. (Image by Gerd Altmann from Pixabay)
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