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Scottsdale housing market: Not just for snowbirds anymore

Housing Wire

But the Scottsdale housing market, and Arizona as a whole, has seen an enormous uptick in out-of-state movers in the past 14 months — when the COVID-19 pandemic began spreading across the country, ultimately allowing people to work from home and seek larger, more cost-effective lots to live on. from 2010, per a recent U.S.

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Opinion: Here’s the latest data on what Realtors are witnessing in the housing market

Housing Wire

However, there are a number of attention-grabbing headlines, which unfortunately only compare today’s housing market to the very recent history of the last two years. It is always good to know where we are with the real estate market, but it is essential to keep all data in historical perspective. . Historically 2.5

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Existing-home sales have nowhere to go but up in 2024? 

Housing Wire

Elevated mortgage rates and high home prices pushed sales of existing homes down again in October to the lowest monthly pace since August 2010. Homes typically go under contract a month or two before the closing, which means the October data largely reflects purchase decisions made in August and September. from October 2022’s $378,800.

Inventory 377
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The current challenges to increasing the homeownership gap

Housing Wire

This article is part of our housing market economic update series. At the end of this series, you can join us on May 10 for a Housing Market Update webinar. The homeownership rate for Black Americans has actually declined between 2010 and 2020 and stands at 43.4%, while the homeownership rate for white Americans is 72.1%.

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Agent strategies for getting first-time homebuyers across the finish line

Housing Wire

In August, Zillow ‘s 2023 Consumer Housing Trends Report proclaimed that half of all homebuyers are purchasing their first home, the highest share that Zillow has ever recorded. One of the primary reasons for this surge is the strong presence of millennials in the housing market, particularly those at the peak, around ages 33 and 34.

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Mortgage rates continue to climb beyond 7%

Housing Wire

What does it mean for the housing market ? However, persistently high mortgage rates pose a significant affordability challenge to buyers and sellers (not to mention the workers of a trillion dollar-plus industry). Higher mortgage rates probably signal “a further contraction in home sales activity,” she added. “We

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How much will home prices climb over the next year?

Housing Wire

The median price of the homes in contract is $385,000. There are now 376,000 single-family homes in contract. Maybe by Q4, we’ll have more homes in contract than there were at the end of 2022. When you look at just the new sales each week, you can see how the pace of the market has recovered. In 2022 there were 418,000.

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