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2020-09 Market Snapshot

By Matthew Hoedt - September 11, 2020
  Wow! 17% Spike in Contracts over $600K in August, 34% of Homes Closed Over Asking Price   For Buyers: The first few weeks of August saw a surprising 17% spike in listings under contract over $600K. This is highly unusual as typically contract activity declines in the 2nd half of the year, especially on the high end; but this is the year 2020 and it’s been full of surprises.

PHX Market Update 08-28-2020

By Matthew Hoedt - August 28, 2020
It's not just the weather that's hot, the Phoenix real estate market is breaking all previous records! Here are the latest statistics for July.    

PHX Market Update 08-21-2020

By Matthew Hoedt - August 21, 2020
A weekly update on what's happening in the Phoenix real estate market. This week: Phoenix leads the nation in job recovery, low supply and high demand are pushing the Cromford Market Index to record highs.    

2020-08 Market Snapshot

By Matthew Hoedt - August 09, 2020
  July Breaks Records in 2020,  65% of Homes Affordable in Greater Phoenix   For Buyers: It’s a jungle out there for buyers, but despite recent appreciation rates the HOI* measure for Greater Phoenix increased to 64.8 for the 2nd Quarter 2020; the previous measure was 63.0. This means that a household making the current median family income of $72,300 per year could affor

PHX Market Update 07-24-2020

By Matthew Hoedt - July 24, 2020
Demand remains high but the inventory of new listings is more than 60% below normal levels. We are officially in a "frenzy." Good news for sellers, challenging times for buyers, especially under $300,000.    

2020-07 Market Snapshot

By Matthew Hoedt - July 10, 2020
  Top 5 Cities Selling Over Asking Price Contracts Accepted in 8 Days or Less Under $400K   For Buyers: Greater Phoenix has a population of approximately 4.8 million people and 1.4 million single family homes, condos and townhomes in total inventory.  As of July 8th, only 8,579 of these units were available for sale through the Arizona Regional MLS.  If that number doesn&r

PHX Market Update 06-26-2020

By Matthew Hoedt - June 26, 2020
  Home prices keep rising, but interest rates are falling to historic lows. This combination means your monthly mortgage payment is almost the same as it was 15 years ago for a similar home!    

PHX Market Update 06-19-2020

By Matthew Hoedt - June 19, 2020
  A weekly update on what's happening in the Phoenix real estate market. This week: a surge in demand coupled with very weak supply is creating a frenzied market.    

2020-06 Market Snapshot

By Matthew Hoedt - June 12, 2020
    Frenzy Is Back - 23% of Sales Close Over Asking Price Luxury Rebound - Contracts Over $500K Up 159%   For Buyers: Greater Phoenix is officially back to a frenzy market with more properties under contract than available for sale.  Over the past 4 weeks the number of contracts accepted weekly has jumped another 20% since last month’s report, bringing the total rec

PHX Market Update 06-05-2020

By Matthew Hoedt - June 05, 2020
  A weekly update on what's happening in the Phoenix real estate market. This week: we're seeing the market rebound at a much faster pace than expected.    

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