Market Updates

Sept. 30, 2022

Builder confidence falls for ninth consecutive month

Source: Atlanta Agent Magazine | John Yellig

Builder confidence fell for the ninth month in a row in September, hitting its lowest level since May 2014, the National Association Home Builders reported, citing a continuing combination of increased interest rates, building-material supply chain disruptions and high home prices.   ...

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Posted in Market Updates
Sept. 29, 2022

Phoenix homebuyers face less competition but are backing out of more deals, report finds

Source: Phoenix Business Journal | Jeff Gifford

The Phoenix metro housing market is seeing some of the nation’s highest number of homebuyers backing out of deals, along with one of the biggest declines in bidding wars, according to research from real estate platform Redfin (Nasdaq: RDFN).

The findings come in two ...

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Posted in Market Updates
Sept. 20, 2022

Most-Productive Phoenix-Area Residential Real Estate Teams

Source: Phoenix Business Journal | Dale Brown

 

Surveyed list assembled with the help of residential real estate brokerages. Information points include 2021 total dollar volume ($50M minimum), number of transaction sides, most expensive home sold, team leader, team website and email.

 

RANK TEAM / 2021 RANK
WEBSITE
ADDRESS
PHONE

# OF ...
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Posted in Market Updates
Sept. 20, 2022

Median days on the market increases in Phoenix and nationwide

Source: Phoenix Agent Magazine | Patrick Regan

Homebuyers nationwide had more time to make decisions in August with the first year-over-year increase in median days on the market since June 2020.

Median days on the market increased by five days to 42 in August compared to the same month last year ...

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Posted in Market Updates
Sept. 19, 2022

Lawsuit alleges tech on Zillow website amounts to ‘wiretapping’

Source: The Seattle Times | Heidi Groover

A tracking tool used on Zillow’s website violates the privacy rights of the tens of thousands of prospective homebuyers and sellers who use the site, a new lawsuit alleges.

The complaint filed Monday in federal court challenges Seattle-based Zillow’s use of session-replay code, a ...

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Posted in Market Updates
Aug. 25, 2022

Undersupplied: Here's how many apartment units are being built in Phoenix

Source: Phoenix Business Journal | Angela Gonzales

 

Chapin Bell has nearly 2,000 apartment units under or starting construction totaling more than $600 million in development costs.

As these projects come to fruition, the CEO of Scottsdale-based P.B. Bell Cos. continues to scout for land.

"We believe in the ...

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Posted in Market Updates
Aug. 25, 2022

Taylor Morrison to build 1,250 homes in Phoenix near Taiwan Semiconductor

Source: Phoenix Business Journal | Angela Gonzales

Taylor Morrison Home Corp. (NYSE: TMHC) plans to build 1,250 homes in north Phoenix near the Taiwan Semiconductor Manufacturing Co.'s $12 billion chip plant under construction.

The Scottsdale-based homebuilder is in escrow to buy 473 acres near Cave Creek Road and Sonoran ...

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Posted in Market Updates
Aug. 19, 2022

Is it a buyer's market yet? Here's how far Phoenix area home prices dropped in July

 

Source: Phoenix Business Journal | Angela Gonzales

Valley home prices dropped in July, leaving many homebuyers wondering if a buyer's market is imminent, even in the midst of higher mortgage interest rates.

The monthly average home sales price in July dropped 9.6% compared to the previous month, from ...

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Posted in Market Updates
Aug. 18, 2022

New-home market 'at a crossroads' amid uptick in canceled contracts, incentives

Source: Phoenix Business Journal | Ashley Fahey

 

Homebuilders across the U.S. are shifting their strategies and financial outlooks amid changing consumer demand for housing.

But where the jury is still out is whether the trend toward elevated canceled contracts, more incentives and lower demand for housing is settling out ...

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Posted in Market Updates
Aug. 18, 2022

Valley luxury home sales cool: Is the metro headed for a buyer's market?

Source: Phoenix Business Journal | Angela Gonzales

The buying frenzy in the Valley's luxury home market appears to have ended.

"I don't feel the market is dead in any way," said Robert Joffe, co-founder of Launch Real Estate. "There's just no question it's a complete slowdown from ...

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Posted in Market Updates