Archive for April, 2017

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 […]

Social Share Toolbar

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. […]

Social Share Toolbar

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 : […]

Social Share Toolbar

Mortgage Interest Rates Update – April 10, 2017

Tuesday, April 11th, 2017 azrealtycom No Comments »

CONVENTIONAL 30 Yr 4 to 4.25 APR 4.28 15 Yr 3.25 to 3.5 APR 3.59 ARMS 5 Yr 3.375 to 4 APR 4.1 7 Yr 3.875 to 4.375 APR 4.41 FHA/VA 30 Yr 3.5 APR 3.56 15 Yr 3 APR 3.12

Social Share Toolbar

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 […]

Social Share Toolbar