News items about home prices, mostly in Arizona
These new pendings prices rose by 1.25% this week, to $395,000 and are 5% greater than a year ago. In the last two years, when October had sharply higher mortgage rates, home sales were tanking and prices were dropping. The opposite is happening now. I don’t expect this to continue. But, this is a stronger…
Want to be in Arizona’s top 1% of earners?You’ll need to make at least $611,353.That’s according to a new Business Journals analysis of data from the IRS, which showed the cutoff for the nation’s top 1% of earners grew by 25% between 2020 and 2021 to $699,008. The data is based on the 2021 tax…
PHOENIX (AZFamily) —The Arizona Humane Society is reopening its Sunnyslope Campus in Phoenix due to an overcapacity crisis at shelters.The Sunnyslope campus is located at 9226 N 13th Avenue in Phoenix, just south of Hatcher Road.“Our overcapacity challenges are persistent and chronic and while we never intended needing to utilize the Sunnyslope Campus for adoption…
With the Federal Reserve cutting the benchmark federal funds rate by half a percentage point to the 4.75%-5% range, Arizona’s residential real estate brokers are seeing renewed homebuyer activity.Right after the Fed’s rate cut, Greg Hague, CEO of Scottsdale-based 72Sold, said he saw an immediate surge of buyer inquiries.They wanted to know if they could…
Arizona, once renowned for its affordable living, now finds itself grappling with the consequences of rapid population growth and inadequate housing supply, a problem exacerbated by high interest rates and construction costs. This housing situation threatens the state’s economic vitality and social stability. The recently released “State of Housing in Arizona” report from the Arizona…
California’s 94027 stands alone when it comes to the nation’s most expensive ZIP codes for housing.The typical home value in 94027 – Atherton, located 30 miles south of San Francisco, was $7,711,460 in March 2024 — leading the way among all ZIP codes in America.That’s according to research obtained for The Business Journals Wealthy 1000, a recent ranking…
Why is it so hard to buy a home? Prices have far outpaced middle-class incomes. Mortgage rates are above 7% for the first time since 2002. And 3 out of 10 homes are sold above listing price.But none of those factors fully captures the variety of challenges buyers nationwide face in the current market. The…
When it comes to pricey real estate in Cincinnati, ZIP codes in Hamilton County take seven of the top 10 spots. Of those, Terrace Park stands alone.The typical home value in 45174, the ZIP code that encompasses Terrace Park, was $684,132 in March 2024 – leading the way among all ZIP codes in Greater Cincinnati.That’s according…
When it comes to pricey real estate in on the First Coast, it’s no surprise Ponte Vedra Beach homes stand alone.The typical home value in Ponte Vedra’s 32082 was $862,506 in March 2024 — leading the way among all ZIP codes in the Jacksonville MSA.That’s according to research obtained for The Business Journals Wealthy 1000, a recent ranking…
halbergman / Getty Images/iStockphotoThere are plenty of reasons that Arizona is considered a hot state. No, it’s not just the weather that breaks records — it’s the housing market as well. Real estate in Arizona is having a boom for a variety of reasons and it might continue through 2029… or fizzle out by that…