The housing market, particularly in the resale segment, has experienced a noticeable decrease in transaction volumes over several months, highlighting a trend of stagnation within this part of the industry. Conversely, the market for new homes tells a strikingly different story, one of growth and in

In the recent assessment of the real estate market dynamics, a subtle yet noticeable shift has occurred, marking a slight deterioration for sellers compared to the previous week. This trend is reflected in the average change in the Cromford® Market Index (CMI) over the last month, which registered a

The landscape of housing affordability in the United States has evolved dramatically, influenced by factors beyond just high mortgage rates. A few years back, an average household earning $59,000 annually could easily secure a mortgage, ensuring their housing costs didn't exceed 30% of their monthly

The ultra-luxury home market is currently experiencing an unprecedented phenomenon that defies the norms of real estate trends. Within the past year, specifically comparing February 2023 to February 2024, there has been a remarkable surge in the average price per square foot for homes valued at $7.5

The dynamics of the housing market in Maricopa and Pinal Counties exhibit a clear trend favoring new home sales over re-sales. In January, the number of new homes sold across these regions underscored the robustness of the new home market. A total of 1,507 new homes were closed, marking a significan

As we embarked on the new year, there was a prevailing optimism that sales volumes would experience a turnaround and start an upward trajectory, particularly with the advent of the Spring season, traditionally a robust period for sales. However, this anticipated rebound has not materialized as hoped

In the current real estate landscape, the number of listings under contract presents a somewhat discouraging picture, with only 8,182 listings reaching this stage after the first seven weeks of the year. This figure falls short when compared to the same timeframe in previous years, with 8,877 listin

Reflecting on the latest trends in the real estate market, it's interesting to see a slight increase in the percentage of the list price that sellers are achieving with the contract price, which has risen from 96.61% to 97.58% since last year. This uptick, albeit modest, signals a shift towards a so

The recent ascent of 30-year fixed mortgage rates above 7% highlights the ongoing volatility in the housing market, spurred by unexpected strength in economic reports. This trend, featuring a momentary spike to 8%, underscores the intricate relationship between Federal Reserve actions, the 10-year T

  Senator Elizabeth Warren, together with three colleagues, has reached out to Federal Reserve Chairman Jerome Powell with a request to consider lowering interest rates at the next Fed meeting to make housing more accessible and affordable. Their letter underscores the critical impact of the Fed's i

In recent weeks, several cities have witnessed a significant increase in their contract ratios for single-family detached homes. This ratio is a key indicator of market demand versus supply, and a rise suggests an uptick in demand. The cities of Apache Junction, Anthem, Arizona City, Gilbert, Sun La

The recent developments in the real estate market have been a source of optimism for sellers, as indicated by the latest data on the Cromford® Market Index. This index, a key indicator of housing market trends, has shown an encouraging trend across 17 major cities. Over the past month, there has bee

The notable downward revisions in job data for October and November, which collectively reduced reported payroll figures by 71,000, have broader implications for the economy, particularly in the real estate sector. With 10 of the past 11 months showing a cumulative downward revision of 427,000 jobs,

In a report released on December 28th, the National Association of Realtors (NAR) revealed that pending home sales in November remained unchanged from October, marking stability in the market. However, these figures also indicated a 5.2% decline from November of the previous year. This data, crucial

The real estate market, as reflected in the Cromford® Market Index (CMI), presents a dynamic landscape across various cities. Over the last month, an average decline of 3.0% in the CMI for 17 major cities has been observed, marking a significant shift from the steeper 6.7% decline witnessed just a w

Last Thursday marked a significant point for the average top-tier 30-year fixed mortgage rate, teetering on the brink of a seven-month low. This distinction, while noteworthy, is a matter of fine detail. Since then, the rates have exhibited only a marginal increase, so slight that it's more apt to v

The real estate market has been witnessing a notable shift in the size of new single-family homes over the past several years. Data on new home sales, which pertains exclusively to single-family homes, reveals a striking trend: the average size of these new homes has been consistently decreasing. Th

The recent trend of declining mortgage rates in the U.S. housing market, specifically the 30-year fixed mortgage rate, has drawn significant attention. This rate fell notably from 7.92% on October 30 to 7.09% by December 1, a substantial decrease over a short period. Typically, lower mortgage rates

The housing market is witnessing a creative and practical trend, particularly among Gen Z and millennials, who are finding innovative ways to navigate through the challenges of high property prices and rising interest rates. This trend, known as "house hacking," involves renting out a part of one’s

Some global news to keep an eye on. The German housing construction sector is facing a significant crisis, as revealed by the latest economic data and expert analyses. Initially, Chancellor Olaf Scholz had ambitiously aimed to build 400,000 new homes annually. However, this goal now seems increasing