Archive for Housing Market Intelligence

Mortgage Interest Rates Update – May 26, 2017

Friday, May 26th, 2017 azrealtycom No Comments »

CONVENTIONAL 30 Yr 3.875 to 4.125 APR 4.24 15 Yr 3.25 to 3.5 APR 3.56 ARMS 5 Yr 3.125 to 3.5 APR 3.61 7 Yr 3.25 to 3.75 APR 3.78 FHA/VA 30 Yr 3.5 APR 3.6 15 Yr 3 APR 3.13

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ARMLS RENT Check™ – April, 2017

Friday, May 26th, 2017 azrealtycom No Comments »

For the month of April 2017, all RENT Check indicators showed great momentum comparing to previous month, March 2017. Median Lease: $1,350 – Healthily increased from $1,328 previous month. Average Lease: $1,546 – Aggressively increased from $1,470 just previous month. Avg. Days on Market: 27 – Decreased from 31 days of previous month. Rent Check Quotient™: 2 : 10 […]

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Housing News – May 19, 2017

Friday, May 19th, 2017 azrealtycom No Comments »

Stocks plummeted and bonds rallied after events in Washington, D.C., spooked investors. The rally in bonds has helped to improve mortgage rates. The investigations into Trump’s recent activities have occupied investors’ attention. Other factors, such as possible Fed rate hikes, have taken a back seat. The labor market appears to be near full strength as […]

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Absorption rate – March, 2017

Sunday, April 30th, 2017 azrealtycom No Comments »

Absorption rate is the percent of sales that are sold each month of the inventory. A higher percent means that inventory is moving at a faster rate, and thus is a Seller’s market. The total absorption rate for metro Phoenix is at 37% for the month of March, 2017. Certain areas of the metro have […]

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Market Snap Shot – March, 2017

Sunday, April 30th, 2017 azrealtycom No Comments »

As of March 31, 2017, we sit at 19,397 active listings. Sales are at 8,943 for the month of March 2017, up by 2,053 units since January, 2017! Pending sales are 7,714 vs. a quarter ago at 4,935. We are currently at 2.2 months of supply. Traditionally, 3-4 months of supply indicate a balanced market. […]

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ARMLS RENT Check™ – March, 2017

Saturday, April 29th, 2017 azrealtycom No Comments »

For the month of March 2017, all RENT Check indicators showed great momentum comparing to  previous quarter, Dec 2016. Median Lease: $1,328 – Healthily increased 4.16% from $1,275 previous quarter. Average Lease: $1,470 – Slightly increased from $1,444 previous quarter. Avg. Days on Market: 31 – Decreased 16.22% from 37 days of previous quarter. Rent Check Quotient™: 3 : […]

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Housing News – April 11, 2017

Tuesday, April 11th, 2017 azrealtycom No Comments »

Home prices appreciated by 1% in February and 7% year-over-year. CoreLogic forecasts home prices will rise by 4.7% in the year going forward. Newly built homes have gotten pricier over the last 10 years, with most homes selling above $250,000. Builders blame regulatory burdens for the increases. The most recent Census Bureau stats show town […]

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Housing News – March 31, 2017

Friday, March 31st, 2017 azrealtycom No Comments »

Pending home sales rose 5.5% in February, a 2.6% increase year-over-year. Warm weather and potentially higher interest rates have been said to be the cause. Home prices roared to the highest levels in nearly 3 years as demand remains strong. Tight inventory continues to be an issue, supporting increasing prices. Warm winter weather also has […]

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Mortgage News – March 31, 2017

Friday, March 31st, 2017 azrealtycom No Comments »

Consumer confidence surged to a 16+-year high in March. Consumer optimism is supported by a strong labor market and a positive economic outlook. The GDP increased 2.1% in the 4th quarter, signaling economic growth. Consumer spending accounts for more than 2/3rds of U.S. economic activity. Some Fed members made comments this week supporting more than […]

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Housing News – March 20, 2017

Monday, March 20th, 2017 azrealtycom No Comments »

Builder confidence in the housing market hit a 12-year high in March. Builders are anticipating helpful regulatory reform from the Trump administration. Housings starts were up in February, helped by unseasonably warm weather. Single-family home construction surged 6.5% to a 9-1/2-year high. Although permits for future home construction overall were down in February, permits for […]

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