record home prices: Slowing in Phoenix Metro Home Price Increases?
- 06/02/22 03:57 PM
Is a slowing in the string of all time record Phoenix metro median high SOLD prices ready to start slowing with rising mortgage rates? Well, maybe not quite yet as May 2022 is expected to be another all time high with sold prices of $475,000. Don't expect a reduction from the median of $475K soon and in fact it may increase further in June for homes that went under contract in May. (Photo from City of Phoenix Parks and Recreation website: Dobbins Lookout Point South Mountain) However there are signs that a slowing (not a downturn) of home prices may be approaching. … (0 comments)
record home prices: Expect May 2022 RECORD Selling Price Phoenix Metro
- 05/02/22 11:06 PM
Another RECORD? No NOT that type of record that spins. Many home buyers have been sitting on the fence trying to time the market for the best home price and mortgage rate. Those that have put it off buying during the past 3 years have lost the opportunity to see massive appreciation with a home value expected to reach a RECORD median high price in May to $475,000 in the Phoenix Arizona metro area. Mortgage rates (30 years) have increased from 3.11% median in December to over 5% in May 2022. The time may be now to buy with further increases … (0 comments)
record home prices: Hot Hot Hot! Not Phoenix AZ Temps but Home Sales!
- 01/25/22 04:45 PM
Hot Hot Hot! is a phrase often used to describe the Sunny Phoenix Arizona metro area but that is not what I am referring to. I mean Home Prices and Home Sales and demand is RED HOT in the Phoenix metro! My last 3 contracts representing buyers in the highly in demand less than $400K homes price were all up against 20 to 35 other contracts from other buyers that we had to deal with. Buyers with cash, best price (usually above list price), fastest move in are getting many of these properties which means that families with a mortgage loan are … (1 comments)
record home prices: Phoenix Metro Median Home Prices Set Record High!
- 10/11/21 11:54 PM
Phoenix Arizona metro area home prices have surged to median prices that are 25% higher than this time last year. What is going on? See this information from Catherine Reagor on 10-10-21 article in the Arizona Republic
Phoenix Metro Median Home Prices Expected to Hit Record $415K "Metro Phoenix’s hot housing market cooled a few degrees during the summer, but prices are climbing again. The Valley’s median home price is expected to have hit $410,000 in September and climb to a new record of $415,000 by mid-October, according to the Arizona Regional Multiple Listing Service’s analysis of pending sales. The price increases are coming even as … (2 comments)
record home prices: US Home Prices have Risen for 40 Straight Quarters
- 09/09/21 09:50 PM
"The country has seen 40 consecutive quarters in which home prices have risen. Notably, prices rose in every state nationwide, led by Idaho, Utah, Arizona, Montana and Rhode Island" per Jacob Passy in a Aug 31, 2021 MarketWatch posted on Realtor.com. Further he says, "A separate quarterly house price index from the Federal Housing Finance Agency showed that home prices rose nearly 5% between the first and second quarters of 2021.
Mr. Passey further stated, "The intense competition for homes in recent months — fueled, in part, by low mortgage rates and a lack of housing inventory — translated into steadily rising … (0 comments)
record home prices: Buy Low SELL HIGH? That time is NOW!
- 06/04/21 07:51 AM
Buy low and SELL HIGH! Yes...that is the old investment adage. When it comes to real estate that time is right now. If one has a desire to move or cash out on investment properties real estate values have reach record highs throughout much of the United States and certainly here in our Phoenix Arizona metro area. Home Prices are increasing throughout the Phoenix metro area to record high levels
During the month of May the median home price in the Phoenix metro area reached $386,000 an all time record high. In Scottsdale it is very rare to find a detached single family … (1 comments)
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Jeff Masich-Scottsdale AZ Associate Broker,MBA,GRI
Is a slowing in the string of all time record Phoenix metro median high SOLD prices ready to start slowing with rising mortgage rates? Well, maybe not quite yet as May 2022 is expected to be another all time high with sold prices of $475,000. Don't expect a reduction from the median of $475K soon and in fact it may increase further in June for homes that went under contract in May. (Photo from City of Phoenix Parks and Recreation website: Dobbins Lookout Point South Mountain)
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