This video shares observations about the real estate market in the Phoenix Metro area for the last 5 weeks (April-May 2020). Homes under contract over the last five weeks have increased by a considerable per cent - about 65%.
The news that makes both Sellers and Buyers happy is that even though prices have increased, with the low interest rates, the monthly mortgage payment on a $300,000 loan (thirty-year fixed, P&I) is lower today than the same time last year. Please, watch the video for more detailed information on events in the real estate market.
If you would like to know what is happening in the real estate market today, please give me a call. I will be happy to share with you market data on a subdivision or neighborhood level, within the context of the major trends for the area.