Market Updates

Jan. 20, 2022

Buy-versus-rent gap narrowing as home-price escalation continues nationally

Source: Phoenix Business Journal | Ashley Fahey

The housing market is hot, and rents are rising at a clip that some describe as unprecedented. It may be putting homebuyers and renters in a bind: Is it more affordable to buy or rent in their markets?

Attom Data Solutions LLC, a property-data ...

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Posted in Market Updates
Jan. 20, 2022

Why Phoenix is only No. 8 among Zillow's 10 hottest housing markets

Source: Phoenix Business Journal | Angela Gonzales

While it's no surprise that Phoenix would make Zillow Group Inc.'s 10 hottest housing markets of 2022, it was a shock to see the rapidly growing metro fall from No. 2 last year to No. 8 this year.

With a typical home ...

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Posted in Market Updates
Jan. 20, 2022

U-Haul ranks West Valley community a top growth city for one-way moves

Source: Phoenix Business Journal | Jeff Gifford & Kathryn Hardison

 

A West Valley city was among the hottest destinations where people were moving last year, according to the latest annual ranking from U-Haul International Inc.

Surprise ranked No. 18 among the top U.S. growth cities in 2021, and Arizona ...

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Posted in Market Updates
Dec. 28, 2021

More build-to-rent home developers enter Phoenix — ground zero for unique hybrid model

 

Source: Phoenix Business Journal | Angela Gonzales

 

It's no secret metro Phoenix is ground zero for the unique build-to-rent market that is taking the country by storm as more developers are entering the Phoenix market to get a piece of the action.

This unique hybrid model made popular ...

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Posted in Market Updates
Dec. 15, 2021

10 housing market records set in 2021

 

Source: Red Fin News | Dana Anderson

 

2021’s housing market has been, in a word, remarkable. The coronavirus pandemic and the resulting surge in remote work have changed where, when, why and how people buy homes. This past year, home-sale prices hit the highest median of all time, the ...

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Posted in Market Updates
Dec. 15, 2021

What cooling market? New home demand ticks up in metro Phoenix

 

Source: Phoenix Business Journal | Angela Gonzales

 

New home demand is on an uptick in metro Phoenix, according to new report by Zonda market research firm.

 

Demand was up 7% in mid-November compared with mid-October, according to Zonda's latest housing report.

 

Within the past 30 days ...

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Posted in Market Updates
Dec. 15, 2021

Will the housing market continue its hot streak in 2022?

 

Source: Housing Wire | Mike Simonsen

As we approach the end of another hot year for the market, homebuyers and sellers are eagerly looking ahead to the 2022 housing market. Will the market continue its streak of strong growth, or are we finally about to see a slow ...

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Posted in Market Updates
Nov. 20, 2021

Investors scooped up record $64B in homes nationally in Q3

 

Source: The Business Journal | Ashley Fahey

The third quarter was investors' most prolific one on record, accounting for a full 18.2% of homes that sold across the U.S.

That's according to Seattle-based Redfin Corp. (NASDAQ: RDFN), which found real estate investors snapped up 90,215 homes ...

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Posted in Market Updates
Nov. 19, 2021

This company bought up most of a Phoenix neighborhood and turned it into rental homes

 

Source: 12 News | Mitch Carr, Katie Wilcox

 

MARICOPA COUNTY, Ariz. — The Phoenix housing market is in the midst of a supply and demand crisis that started during the pandemic.

The crisis has caused a rapid rise in home prices that have priced out prospective buyers.

Home prices ...

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Posted in Market Updates
Nov. 19, 2021

One Arizona ZIP code ranked among most expensive US neighborhoods

 

Source: Phoenix Business Journal | Angela Gonzales 

The 85253 ZIP code of Paradise Valley had a home price increase from a year ago that far surpassed the national average, based on listing data. As a whole, the most expensive ZIP codes in the U.S. are 7.1% more expensive ...

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Posted in Market Updates