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Posts Categorized: Market Update

Market Summary

Industry News, Market Update

Michael Orr Journal Columnist Founder and Owner, Cromford® Report     The market in 2017 has so far continued the trends of 2015 and 2016. We have very limited numbers of entry level homes and first time buyers face a stressful time unless their budget stretches over $300,000. We have less than 40 days of… Read more

The Phoenix Metro Rental Industry

Industry News, Market Update

Tom Simplot President & CEO, Arizona Multihousing Association (AMA)   The rental industry in the Phoenix MSA is finally starting to catch up with major cities in America. There is market demand — plain and simple.  According to a recent market report on the Phoenix multifamily industry from Colliers International, vacancy rates ticked slightly higher… Read more

Economic Update

Industry News, Market Update

Sandra Watson President and CEO Arizona Commerce Authority   Spring is an exciting time in Arizona, as thousands of visitors make their annual pilgrimage to the Valley to take in the Arizona sunshine and sporting events including the Waste Management Phoenix Open, Spring Training baseball, and this year, the NCAA Final Four Championship. It’s an… Read more

Words from John Giles, Mayor of Mesa

Local, Market Update

John Giles Mayor of Mesa   Mesa is the third largest city in Arizona and our growth is accelerating. For years, we have been known for our stellar housing communities and that continues today with new developments like Eastmark, Cadence and Lehi Crossing. We were only second to Phoenix in 2016 in number of new… Read more

Market Summary

Market Update

Michael Orr Journal Columnist Founder and Owner, Cromford® Report   TABLE A This table shows postal cities in Maricopa and Pinal Counties by the number of home sales recorded in 2016. Note that although it is still unincorporated, San Tan Valley is now the 9th largest “city.” TABLE B Ranks the postal cities by dollar… Read more

A Relaxed Arizona Mortgage Market

Lending, Market Update

Rocke Andrews President, National Association of Mortgage Professionals   The year 2017 brings many changes to the Arizona mortgage industry. As the economy and real estate market recover and thrive, the mortgage industry is relaxing and advancing. Fannie Mae and Freddie Mac are helping with this by making more modifications to the mortgage process to improve… Read more

Market Summary

Market Update

Michael Orr Journal Columnist Founder and Owner, Cromford® Report   Please see the provided charts featuring the following information: The ranking of cities by average price per square foot. Areas that had the largest and smallest growth in home sales between 2015 and 2016. The average growth was just over 9 percent.   Michael Orr… Read more

Economic Update

Market Update

Chris Camacho President & CEO, Greater Phoenix Economic Council   This November, regional and state leaders gathered to share the announcement that ADP — a global provider of human capital management solutions — would be opening a new office in Tempe, Arizona adding 1,500 jobs in a space that was once the headquarters for U.S…. Read more

2017: Phoenix Market Leads the Nation

Market Update, National

Jonathan Smoke Chief Economist, realtor.com   Despite a more moderate housing market overall in 2017, strong local economies and population growth will continue to fuel the nation’s top markets. The realtor.com® 2017 top 10 housing markets based on price and sales gains are: Phoenix-Mesa-Scottsdale, Ariz. Los Angeles-Long Beach-Anaheim, Calif. Boston-Cambridge-Newton, Mass.-N.H. Sacramento–Roseville–Arden-Arcade, Calif. Riverside-San Bernardino-Ontario,… Read more

Real Estate CrowdFunding

Industry News, Market Update

Nav Athwal Founder and CEO, RealtyShares   Since the passage of the 2012 JOBS Act, real estate crowdfunding has become one of the fastest-growing segments of the crowdfunding industry. According to research from the University of Cambridge Judge Business School, U.S. investors used crowdfunding platforms to invest $484 million into real estate deals in 2015… Read more

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