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Author: cpatrickaz

Phoenix Housing Market Update Summary for July

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Welcome to July’s housing market update, I hope you had a fun & safe 4th of July celebration! The first half of 2024 has been a very subdued period for Greater Phoenix’s residential real estate. The market is not in trouble, but the closing volumes have been far below normal and buyer enthusiasm is unusually weak … Continued

Just Sold In Litchfield Park

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We just got this home sold! Supply continues to climb, which is unusual for the time of year and we notice that the rate of climb has increased since last month. Buyers have 54% more homes to choose from than they had last year but still face 30-year mortgage rates of over 7% which is … Continued

June 2024 Housing Market Update

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Phoenix Housing Market Update Summary for June We are now seeing a weakening trend in the market. Sellers are nervous and buyers are unenthusiastic. We are not in a buyer’s market overall, but some significant markets are. If current trends continue then more areas could join them as inventory continues to climb! Just Look how … Continued

COMING SOON! Litchfield Park

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Brand new paint, carpet & updated unit in the gated community of Renaissance Villas. Well-maintained townhome w/ 2 Car Tandem Garage. Nothing needed; move in ready!! 1 bedroom, 1 bath townhome features an open kitchen/great room concept with vaulted ceilings. Newer stainless steel appliances (2019). Refrigerator, washer/dryer (2019) and water heater (2023) included. Owners Suite … Continued

Wire Fraud: A Real Threat for Home Buyers

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In an age where digital transactions dominate, the convenience of wire transfers has become a double-edged sword, particularly for home buyers. The allure of swift transactions can sometimes blind us to the lurking dangers of cybercrime, with wire fraud emerging as a significant threat in the real estate realm. Recently, one of our clients encountered … Continued

Under Contract In Marley Park!

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We’ve successfully secured this property under contract for our investor client at a remarkable price, well below the initial asking. Are you a homebuyer or investor seeking the best value? Contact us today! Check out this property! This Marley Park home boasts the quintessential front porch, epitomizing cozy suburban living. With only one owner, it’s … Continued

New data: Phoenix rents increased 0.1% in February

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The rental market turned a corner in February, with prices rising 0.2% nationwide in February and trending up for the first time in half a year. On an annualized basis, rent growth remains negative at -1%, meaning that on average, new leases remain marginally cheaper than they were one year ago. But we expect the … Continued
Housing Market Trends

March Housing Market Update

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Market Summary for the Beginning of March As we enter the last month the first quarter and enter the Spring selling season, here’s the housing market update for the month of March.   Here are the basics – the ARMLS numbers for March 1, 2024 compared with March 1, 2023 for all areas & types: While … Continued

January 2024 Housing Market Update.

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Happy New Year! As we step into the real estate arena of 2024, we’re thrilled to present our first Housing Market Update of the year. Whether you’re a seasoned investor, a prospective buyer, or simply intrigued by the dynamics of the housing market, this update is crafted just for you. In this edition, we’ll be … Continued