Market Whiplash in 2024: Is Greater Phoenix Real Estate Finally Stabilizing?
I'm getting market whiplash. GGGRRRRRRR!
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Now what? Click here to watch this month's video.
2024 is expected to be another year of change for the Greater Phoenix housing industry, but this time the shift is expected to be towards stability in home appreciation and improved affordability measures as incomes catch up.
Do you think that is in the cards for this year? I've been far too optimistic for a while now, so I'm gonna wait for your answer. Reply back with a thumb's up or down.
Are you considering buying or selling a home? Reply to this email or text me at 602-730-2143.
If you know anyone considering buying or selling a home, please don't keep me a secret! I love working with friends, family, and co-workers.
Simply reply to this email or call/text me at 602-730-2143.
It's an election year. What does that mean to real estate?
Probably our biggest complaint in the housing market is affordability.Affordability includes how much a house costs to buy and interest rates. Check out the above graph to see how mortgage interest rates are impacted by elections.
The main influence on the housing market comes from policies, not the elections themselves.
For instance, the stimulus packages and policies that were passed during the 2020 COVID-19 election year and continued into the next administration were the first stones to cause a ripple effect of fortunate and unfortunate events in the housing market over the past 4 years.
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There is one market that can be affected by an election, and that’s the stock market.After the last 4 elections, the stock market has responded positively afterwards, which affects both luxury buyers and retirees with a high percentage of cash purchases.
Keep reading....
A warm thank you to the Cromford Report, and Tina Tamborer, for her invaluable insights and data for this update.
This is one of my favorite stories about the Seller's Property Disclosure Statement (SPDS) that I've come across. Would you want to live where the community thinks that aliens were kept inside? Click to watch this video and let me know what you think.
If you know anyone considering buying or selling a home, please don't keep me a secret! I love working with friends, family, and co-workers.
Simply reply to this email or call/text me at 602-730-2143.
