01/24/2023

The 3 Factors That Affect Home Affordability If you’ve been following the housing market over the last couple of years, you’ve likely heard about growing affordability challenges. But according to experts, the key factors determining housing affordability are projected to improve this year. Selma Hepp, Executive, Deputy Chief Economist at CoreLogic, shares: “. . . with slowly improving affordability and a more optimistic economic outlook than previously believed, the housing market could show resilience in 2023.” The three measures used to establish home affordability are home prices, mortgage rates, and wages. Here’s a closer look at each one. 1. Mortgage Rates Mortgage rates shot up to over 7% last year, causing many buyers to put their plans on hold. But things are looking different ... 01/24/2023

What’s Really Happening with Home Prices? [INFOGRAPHIC] Some Highlights If you’re thinking about selling your house, recent headlines about home prices falling month-over-month may have you second-guessing your decision—but perspective matters. While home prices are down slightly month-over-month in some markets, home values are still up almost 10% nationally on a year-over-year basis. A nearly 10% gain is still dramatic compared to the more normal level of appreciation, which is 3-4%. Let’s connect to find out how much equity you have in your current home and how you can use it to fuel your next purchase. This is a national perspective. To learn what's happening in your market talk to your local REALTOR®. 01/20/2023

- December 2022 Scottsdale Housing Market Video - Here is a one-minute video overview of the Scottsdale, Arizona real estate market that covers the month of December. December 2022 - Video Scottsdale Active Listings We saw another year-over-year jump (117%) in listings. However, to put this in perspective, Scottsdale had incredibly low inventory levels last December. Even now, we are still seeing moderately low inventory. And the number of homes for sale fell 16% between the end of November and the end of December. Median List Price for Scottsdale Homes If you are not familiar with it, the median listing price tells you the price where 50% of the market is priced higher and 50% of the market is priced lower. The median listing price in Scottsdale in December was $1.3 million. This is up... 01/26/2023