Here is a quick snapshot of the current Phoenix and Scottsdale real estate market as of February 2012: Active inventory of homes for sale was 23,732, a 41% decrease from February 2011. Closings of homes sold were 7,276 closings in February 2012, 1% above February 2011. Months of Inventory was 3.3, down from 5.6 […]
First Time Homebuyers in Scottsdale Squeezed Out by Investors
The Scottsdale real estate market is moving incredibly fast this month, especially in the lower end price ranges. Many potential Scottsdale home buyers who have been sitting on the sidelines waiting for the market to hit bottom have missed it and are now in a heated competition with investors for low price properties. Scottsdale is […]
Cheaper to Buy than Rent in Scottsdale AZ
Scottsdale home prices have fallen so drastically and mortgage rates are so low that the monthly cost of owning a home in Scottsdale is now more affordable than ever. Did you think you would never be able to buy in this prestigious city? Think again! It is actually cheaper to buy a home than it […]
Scottsdale Real Estate Market Looking Up in 2012
The Scottsdale Real Estate market is expected to show price increases during 2012. During 2011, the economic forecasting firm Fiserv predicted that home values would sink around 5% in 2011, and that prices in three-quarters of the nation’s major metro areas would fall. This turned out to be fairly accurate. The good news is that […]
Scottsdale Real Estate Update – November 2011
Here is my monthly update on the market for Phoenix and Scottsdale real estate: 1. Active Notices of default for residential properties as of the end of October 2011 were 21,903 units. That is down from last month of 22,301. This is the 11th month in a row that we have seen decreases in the […]
Mortgage Rates Fall Again to 4.10%
Mortgage rates on a 30 year fixed mortgage fell slightly to 4.10% from 4.11% last week. This is slightly higher than the record low in the rate, earlier this month. Three weeks ago, the rate dropped to 3.94%. That was the lowest rate EVER on record according to The National Bureau of Economic Research. What […]
Scottsdale Real Estate Appreciation Rates
Below are the Phoenix and Scottsdale real estate appreciation rates. This data is provided by the Cromford Report, the leading authority on residential market data. Phoenix Real Estate Annual Appreciation: -8.3% (Values are dropping/increasing at this rate.) Recent Appreciation Trend: -2.0% (The drop/increase in value is getting better or worse at this rate.) 4,625 Active Homes Listed For […]
Update on US Housing Trends
Highlights of US Housing Trends Existing home sales rose 7.7% in August. Condominium and co-op sales rose 1.8%; single-family home sales rose 8.5%. The median existing home price declined to $168,300, from $174,000 in July. Existing home sales in the West region saw the biggest gains, up 18.3% month over month. New home sales declined […]
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