Archive for Housing Market Intelligence

Benchmark rate increased

Monday, July 9th, 2018 azrealtycom No Comments »

Surprising no one, the Federal Reserve lifted its benchmark rate by a quarter point last week, the second hike this year. With unemployment at 3.8 percent, the lowest since 2000, and inflation creeping higher, the Fed says raising rates gradually will keep the economy from overheating. – Reuters

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Mortgage Getting Some Difficulties

Monday, July 9th, 2018 azrealtycom No Comments »

Lenders face an increasingly difficult market. With mortgage rates up about 80 basis points since last September, refinancing is falling sharply; Purchase applications were also down 2.9 percent from April to May. Lenders may turn to cost cutting as a means of managing their bottom lines.  – Reuters

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SkySong 5 Building is to Begin July 2018

Thursday, June 21st, 2018 azrealtycom No Comments »

SkySong 5, the newest and tallest building at the ASU Scottsdale Innovation Center cost more than 43 million, will break ground July 9, 2018. The building will be six stories and consist of 151,318 square feet, bringing the total square footage of SkySong buildings to 868,457. The first and second buildings in the complex opened […]

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ARMLS Rent Check™ – May, 2018

Tuesday, June 19th, 2018 azrealtycom No Comments »

For the month of May 2018, all RENT Check indicators showed sustaining momentum comparing to the previous month, April 2018. Median Lease: $1,450 – Increased from $1,400 previous month. Average Lease: $1,616 – Increased from $1,567 previous month. Avg. Days on Market: 25 – Decreased from 29 days of the previous month. Closed Rental: 1,903 – Increased from 1,771 homes […]

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Housing Market Starts Strong for 2018

Saturday, January 13th, 2018 azrealtycom No Comments »

Here are some good indicators showing US housing market carries great momentum from 2017 to 2018: Home equity has hit a new record high, reported to be $5.5 trillion. Remodeling spending topped $152 billion in 2017 and is forecast to increase in 2018. Mortgage applications on newly constructed homes rose 18% in December from the […]

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Mortgage Rates – Jan 12, 2018

Saturday, January 13th, 2018 azrealtycom No Comments »

CONVENTIONAL 30 Yr    4.25 to 4.375 APR 4.43 15 Yr    3.75 to 4 APR 4.1   ARMS 5 Yr 3.875 to 4.2 APR 4.37 7 Yr   3.875 to 4 APR 4.124   FHA/VA  30 Yr    3.625 APR 3.74 15 Yr    3.375 APR 3.41  

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About the Tax Reform

Wednesday, December 27th, 2017 azrealtycom No Comments »

On December 20th, Congress passed the Tax Cuts and Jobs Act. This is the first significant change to the U.S tax code since 1986. Here’s what you need to know in 2018: Tax deductions allowed on mortgage interest have been reduced from $1M to $750,000. Personal exemptions have been eliminated, but standard deductions rose from […]

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Phoenix Home Prices up 6% since 2016

Tuesday, December 26th, 2017 azrealtycom No Comments »

Phoenix home prices are continuing to rise, clocking in at a 6 percent year-over-year increase, according to a new housing report. The S&P CoreLogic Case-Shiller index report released Tuesday showed that, through October, the Valley’s home prices were continuing an upward trend. The region finished in the middle of the pack in terms of price […]

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Metro Phoenix Housing Ends Strong!!!

Thursday, December 21st, 2017 azrealtycom No Comments »

Click below infographic for clear resolution.

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Housing Market Continues Gaining Ground

Tuesday, December 19th, 2017 azrealtycom No Comments »

Home prices shot up 7% year-over-year in October – up 0.9% from September. They are anticipated to rise 4.2% through October 2018. As of Jan. 1, nearly every area of the U.S. will see FHA limits increase. FHA is required by law to set Single Family forward loan limits at 115 percent of median house […]

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