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Posts Categorized: Market Update

Market Update: Number of Non-Owner Occupied Homes, Rental Rate Compared to Sale Price, Number of Sales by Year Built

Market Update

Fletcher Wilcox Grand Canyon Title Agency   According to Maricopa County records, there are approximately 1,043,844 single family residences. Twenty-six percent, or 271,730, are categorized as non-owner occupied. How does a single-family residence get categorized as non-owner occupied? Arizona Revised Statutes requires that when there is a sale of a property and when that property… Read more

Market Update: Mortgage Rates, Sales and New Listings

Market Update

Fletcher Wilcox Grand Canyon Title Agency   Mortgage Rates in Perspective Since 1971 Freddie Mac has tracked the thirty-year fixed mortgage rate. Chart One shows a partial history of their tracking. The year with the highest annual average thirty-year fixed mortgage rate was in 1981 when it was 16.63 percent.  In 1990 it was 10.13… Read more

Market Update: Sales, New Listings, Sales Price, Months of Supply, Employment Numbers

Market Update

Fletcher Wilcox V.P. Business Development & Real Estate Analyst, Grand Canyon Title Agency, Inc.   Sales and New Listings Sales of previously owned single family homes in Greater Phoenix (Maricopa County) were down two percent in August 2018 compared to August 2017, but up were up 2% overall for the first eight months of 2018… Read more

Signs of a Roaring Luxury Residential Market

Market Update

Fletcher Wilcox V.P. Business Development & Real Estate Analyst, Grand Canyon Title Agency   Defining what a luxury residence is can be difficult. Someone’s notion of what constitutes luxury may not meet another’s definition. This article will look at the luxury market from several different angles. One such angle is price, though price is not… Read more

MARKET UPDATE: June 2018 Sales, New Inventory, and Median Purchase Price

Market Update

Fletcher Wilcox V.P. Business Development & Real Estate Analyst, Grand Canyon Title Agency, Inc.   The June median purchase price for a previously owned single-family home in Maricopa County matched May’s record-high median purchase price of $295,000. The previous record for median purchase price was set in June of 2006 at $287,500. The chart below… Read more

Job and Income Growth Make for a Fired-Up First Half of 2018 Real Estate Market

Market Update

Fletcher Wilcox V.P. Business Development & Real Estate Analyst, Grand Canyon Title Agency, Inc.   We are halfway through 2018. Let’s review available economic information for 2018 and compare it to prior time periods. Arizona has made tremendous strides in job growth. The Arizona Office of Economic Opportunity has available job data for the first… Read more

Market Update: Comparison of a Mortgage Payment to a Rental Payment

Market Update

Fletcher Wilcox V.P. Business Development & Real Estate Analyst, Grand Canyon Title Agency, Inc.   HOW BIG IS THE SINGLE-FAMILY HOME MARKET IN MARICOPA COUNTY? There are 1,043,000 single-family properties in Maricopa County. Single-family properties are by far the most popular residential product to own. Over 80 percent of sales this year on the Arizona… Read more

Market Update

Market Update

Fletcher Wilcox V.P. Business Development & Real Estate Analyst, Grand Canyon Title Agency, Inc.   Median Sale Price Continues to Go Up The chart below compares the median sale price in Maricopa County for the last four years and first four months of 2018. As you can see, the sale price has increased every month… Read more

Market Update

Market Update

Fletcher Wilcox V.P. Business Development & Real Estate Analyst, Grand Canyon Title Agency, Inc.     2018 Dollar Sales Volume Hits All-Time High for a First Quarter Strong demand to own a home in the first quarter of 2018 led to the highest dollar sales volume ever for a first quarter. The previous first quarter… Read more

Market Update

Market Update

Fletcher Wilcox V.P. Business Development & Real Estate Analyst, Grand Canyon Title Agency, Inc.   This report reviews trends for previously owned single-family homes in Maricopa County.  The information is compiled from Arizona Regional Multiple Listing Service, Inc. (ARMLS). Strong Start in 2018 for Sales and Median Sale Price, but not for New Listing Inventory… Read more

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