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Posts Categorized: Market Update

Market Update: Arizona Scores Big on 1st Q Personal Income Maricopa County gained 250,000 jobs Two Arizona Cities Number One Mortgage Rates Continue Downward

Commercial Real Estate, Market Update

Fletcher Wilcox V.P. Business Development & Real Estate Analyst, Grand Canyon Title Agency   First-quarter personal income starts out with a boom for Arizona According to a report from the U.S. Bureau of Economic Analysis national first-quarter state personal income increased at a 3.4 percent annual rate over the fourth quarter of 2018. See chart… Read more

May 2019 Market Update for Maricopa County Residential Sales Fire Back Up Median Purchase Price Sets New Record High Job Growth

Luxury Homes, Market Update

Fletcher Wilcox V.P. Business Development & Real Estate Analyst, Grand Canyon Title Agency   May 2019 Sales of Single Family Resales  For the second month in a row the year-over-year slow-down for sales of single-family resales has ended. Sales of single-family resales in Maricopa County (Greater Phoenix) in May 2019 were 7,525. This was 327… Read more

Market Update: Tremendous Sales in April Population, Job & Income to Fuel Explosive Real Estate Growth

Market Update, Phoenix Growth Trends

Fletcher Wilcox V.P. Business Development & Real Estate Analyst, Grand Canyon Title Agency   April was a turnaround month. Sales of previously owned single-family homes posted their best month year-over-year in nine months. Every single month from August of 2018 through March of 2019 had fewer sales than in the same month of the previous… Read more

Market Update: Plenty of Opportunity in 2019 for Sales

Market Update

Fletcher Wilcox Grand Canyon Title Agency   Last month’s report showed that in Maricopa County (Greater Phoenix) year-over-year an increase in purchase prices, an increase in the number people employed, which means more potential homebuyers, while at the same time a decrease in the number of sales. This trend started in August 2018 and continues…. Read more

Purchase Price, Affordability, Sales & New Listings, Jobs Update

Market Update

Fletcher Wilcox Grand Canyon Title Agency   Median Purchase Price Continues Ascent The median purchase of a previously owned single-family home in Maricopa County (Greater Phoenix) continued its rise in February. It was $293,000 this past February which was $3,000 or one percent higher than in January, and $17,000 or six percent higher than February… Read more

Old Housing Stock Creates Opportunities for Remodels, Fix & Flips; Results for January Sales, New Listings and Median Purchase Price

Market Update

Fletcher Wilcox Grand Canyon Title Agency   The Maricopa County median purchase price for a previously owned single-family home in January 2019 was $290,000. This was $16,250 or six percent higher than January 2018. In the previous five years, the month of January has always been the month with the lowest median purchase price of… Read more

2018 Results — 2019 Predictions The Residential Real Estate Market in Maricopa County

Market Update

Fletcher Wilcox Grand Canyon Title Agency   The total number of residential sales in 2018 was equal to the number of sales in 2017. According to data from The Arizona Regional Multiple Listing Services, Inc. known as ARMLS, sales in Maricopa County in 2018 were 84,001 compared to 84,049 in 2017. When the number of… Read more

Market Update

Market Update

Fletcher Wilcox Grand Canyon Title Agency   November Median Purchase Price The median purchase price for a previously owned single family home in Maricopa County is holding steady. In November 2018 for the second month in a row it was $290,000. Up from $287,000 in September.  The November 2018 median purchase price of $290,000 is… Read more

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

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