While COVID-19 continues to wreak havoc on the national economy, the Phoenix area continued to be a “hot-spot” (pun intended) for real estate and homeownership during the 4th quarter of 2019 before the global pandemic began to impact the Grand Canyon State. According to the National Association of REALTORS® 4th quarter local market report, the … Read more
But local real estate agents say those projections don’t jive with what they are seeing on the ground, at least not in Lake Havasu City. CoreLogic reports price growth is expected to stall out in June with a drop of 0.1 percent and remain slow throughout the summer. But the Havasu real estate market actually … Read more
Verde Valley real estate agents are reporting the market in Sedona and Oak Creek that similar to other parts of Arizona, inventory is low and the level of interest only seems to be increasing. According to Jeanette Sauer, who runs Pennington Luxury Group, “Buyers want out of urban cities and want to live a healthy … Read more
Arizona real estate sales has experience an unexpected jump in sales according to Jim Belfiore, president of Belfiore Real Estate Consulting. “It is really pervading across markets,” Belfiore said pointing to strong home sales in north and south Buckeye, Gilbert and the Queen Creek / Hunt Highway areas. “It’s really bringing out demand at all … Read more
Home builders and the real estate industry are hoping the summer looks like May and not April as they watch the rise in COVID-19 cases in Arizona and some other states. May saw a big rebound in home sales with much of the economy reopening in Arizona. That contrasts to April when COVID shutdowns slowed … Read more
Stats from Arizona Multiple Listing Service indicate a 21.5% decrease in new listings in metro Phoenix. However it’s not all bad, as the median price for new listings has gone up 7.1%. Check out this report from ARMLS.
With closings down 31.5% and listings down 33.2%, the COVID-19 pandemic has seemingly taken hold in the Tucson area. The good news is while the number of single-family homes has decreased, the median sales price has actually gone up 2% to $250K.