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Author: cpatrickaz

New Home Slowdown and Market Shifts

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For those closely watching the Phoenix housing market, the latest data on new home sales and construction permits reveals some significant shifts. Over the past six months, the new home sector has been losing market share to re-sale homes. In December 2024, new home sales made up just 24% of the market, a decline from … Continued

January 2025 Housing Market Update

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Market Summary for the 1st Quarter of 2025 Happy New Year! We’re excited to kick off 2025 with some great news: due to popular demand, we’ll now be mailing out a quarterly housing market update to keep you informed. The next issue will arrive in April. For more frequent updates, don’t forget to subscribe to … Continued

Rental Price Trends

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The chart illustrates the monthly average lease price per square foot for ARMLS residential rentals (excluding vacation rentals) from 2015 to early 2025. Here’s a breakdown of key trends and insights into the current market: Rental Price Trends Phoenix becoming a top destination for out-of-state relocations.Pandemic-induced housing dynamics, including an influx of renters due to … Continued

Elevate Your Lifestyle in Verrado, AZ: Your Forever Home Awaits!

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Welcome to your dream home nestled in the picturesque community of Verrado, Arizona! This stunning property offers an extraordinary blend of modern design and thoughtful upgrades, creating a sanctuary that’s perfect for elevating your lifestyle. From the moment you step inside, you’ll be captivated by the attention to detail and the inviting warmth this home … Continued

Understanding the NAR Settlement Agreement: What It Means for Home Buyers

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The real estate industry is undergoing significant changes as a result of the recent National Association of Realtors (NAR) settlement. These changes, effective August 17, 2024, are designed to increase transparency and empower consumers—whether you’re buying or selling a home. Here’s what you need to know about how these updates might impact you as a … Continued

August Housing Market Update

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Welcome to the August housing market update. The affordability in Maricopa County has improved slightly, though there is no sign yet of this leading to strengthening demand. It would make sense to assume that potential buyers are waiting for mortgage rates to come down. Here are the basics – the ARMLS numbers for August 1, … Continued