Recent Posts: Real Estate Facts & Figures

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Phoenix Home Ownership Soars.

The home ownership rate in the Phoenix metro area has risen to 63%, a remarkable recovery for one of the cities hit hardest by the housing crisis, according to a report by Ten-X, an online real estate transaction marketplace. The increase surpasses the national average for the first time since 2010. And this growth should […]

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Luxury Homes Recovery.

New homes 5,000 square feet or more increased both as a share of all new construction and in absolute number  in 2015, according to the Census Bureau’s Survey of Construction. In 2015, the share of new homes this size reached a post-recession peak of about 4% of new homes started nationwide, a number of around […]

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Public Transit Proximity Matters.

The America THINKS survey found that 83% of all Americans were as or more interested in living near accessible public transportation than they were 5 years ago, including 76% of Americans living in rural areas. This desire to live near public transportation has increased in the last 5 years among 29% of Americans. Public transit […]

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Low Hazard Risk County Home Sales Increasing Twice as Fast.

In a study, 3,000 U.S. counties were indexed based on risk of six natural hazards – such as earthquakes, floods, hail, and hurricane storm surge. The research showed that median home prices in the first 6 months of 2016 are up 9.5% from the same time period 10 years ago in the counties with the […]

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Canadians Haven’t all Left.

Canadian buyers accounted for about 6% of the homes purchased in the metro Phoenix area at their peak in April of 2011. Then the Canadian dollar was worth more than ours, and Canadians were purchasing at the bottom of our market. Today, the U.S. dollar buys around 1.29 Canadian dollars. As a result, in the […]

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New Home Construction Up.

There were 3.301 closing of new home builds by production builders in the 2nd quarter of 2016 in the Phoenix metro area – a rise of 37% from the same quarter last year.

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Lot Sizes Plunge.

The median lot size of a new single-family detached home sold in 2015 dropped under 8,600 square feet for the first time since Census Bureau’s Survey of Construction started tracking that statistic. This is part of a national trend where both homes and lots are getting smaller. The median lot size for custom single-family homes […]

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Agents are Not Trusted, Part 1.

Last year Consumer Reports magazine said “[t]he real-estate-agent business is saddled with a poor reputation” and “[a]ccording to the real estate agents we surveyed, that reputation is sometimes earned.” This is also reflected in an earlier study of the most trusted professions. In the study real estate agents were rated behind Sex Workers, Soccer players […]

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Best Cities for First Timers.

The metro Phoenix, Arizona cities of #Gilbert (4th), #Chandler (10th), and #Peoria (at 13th) are ranked among the best medium sized U.S. cities for first time #homebuyers according to the NAR.  #Arizona as a state ranks 10th in the nation.

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Phoenix ties San Francisco for best high-tech job growth.

Phoenix tied San Francisco for the best high-tech job growth among major North American markets over the past two years, according to a new report from CBRE. The report shows the Phoenix added 12,662 new high-tech jobs from 2012 to 2014. That is a 42.7% increase for the Valley’s tech sector, tying San Francisco for […]

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New-Home Construction Trailing Job Growth.

The metro Phoenix-Mesa-Scottsdale area is one of the metro areas where new-home construction is lagging. According to the National Association of REALTORS®, this may lead to a shortage of new housing stock. NAR measured the ratio of new-home construction to the number of newly employed workers in 146 metro areas over from 2012 to 2014. […]

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Phoenix More Affordable Despite Price Recovery.

The median home values in many metro Phoenix areas have fully recovered and are near or equal to that of the height of the market in 2006. But there is one important difference between peak prices in 2006 and resale home values today: the cost of money. In June of 2006, the 30-year fixed rate […]

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Appraisers Are Dying – Literally!

MarketWatch.com reports that the number of appraisers is down 20% from 2007, and the number in that profession is expected to decline steeply in the next five years. Residential has been hit harder than commercial, with predictions that the decrease could continue by 3% each year for the decade. One reason is that 61% of […]

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The Builder Tear-Down Boom.

Builders tore down and reconstructed about 55,000 homes – or about 7.7% of all single-family housing starts last year, according to estimates by the National Association of Home Builders, www.nahb.org. As the housing stock continues to age and builders are hard-pressed to find suitable lots, the tear down trend is expected to grow. Although our […]

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What Has Home Builders the Most Worried.

The cost and availability of labor is the top challenge home builders expect to face this year according to the National Association of Home Builders. The other top 10 significant problems builders say they will face in 2016 are: 1. Cost/availability of labor: 76% 2. Cost/availability of developed lots: 59% 3. Federal environmental regulations and […]

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