News items about home prices, mostly in Arizona
Every day, Arizona families face impossible choices: parents skipping meals to afford rent, seniors rationing medication, and workers enduring hours-long commutes just to keep a roof overhead. The numbers don’t lie — home prices have surged 57% since 2019, while half of all renters spend over 30% of their income on housing. If we continue…
So far, the price drops are minor. Washington has the biggest decline at 0.9%, followed by Georgia (0.8%), Montana (0.2%), South Carolina (0.3%) and Texas (0.1%). Prices in three other states — Florida (0.2%), South Dakota (0.3%) and Louisiana (0.4%) — have grown, not fallen, but by less than 1%. The cooling in Texas and…
The Arizona Department of Water Resources has started developing its own version of a program that would allow farmers to sell agricultural land to developers who can convert the land for housing projects.The Department of Water Resources is embarking on an informal stakeholder process for its “Ag-to-Urban” program. This program will allow new homes to…
Now two months into 2025, Phoenix’s housing experts have developed a feel for how the market is shaking out. But one thing is clear: every sector of the residential real estate market is built differently.After numerous conversations in recent weeks, we’ve broken down all the trends to see how homebuilders, multifamily developers, luxury brokers and…
Inventory Available inventory of unsold single-family homes in the U.S. climbed this week almost half a percent to just over 640,000. There are 28.7% more homes on the market now than a year ago. This is the supply expansion I was talking about. However, mortgage rates were climbing to their highest level of the year…
The start of 2025 saw high home prices in the Flagstaff area continue, according to data from regional and state realtors associations.The January 2025 Market Review, published by the Northern Arizona Association of Realtors (NAAR), found that the median sales price of residential homes in Flagstaff was $725,000 in January 2025. × …
PHOENIX — Backers of a sweeping housing bill that would allow developers to build small homes on tiny lots and bar large cities from requiring things like fencing or other design elements have realized that they’ll actually have to negotiate major changes if they hope to get Gov. Katie Hobbs’ signature.Rep. Leo Biasiucci, R-Lake Havasu…
Nick Wemyss saw firsthand how the Covid-19 pandemic fundamentally reshaped the luxury housing market.Wemyss, a real estate consultant and Realtor at Berkshire Hathaway affiliate Intero Real Estate Services, watched as the rise of remote work freed people to relocate from his home base in Los Altos, California — where home prices on average top $4.7 million…
As a registered nurse for more than 40 years, I’m focused on patients – not politics. But, I cannot remain silent when a system is hurting patients.Why are prescription medications three times more expensive for Americans than for people in the rest of the developed world? Why has the cost of these drugs soared by…
Greg Hague, who has been a fierce critic of the ibuyer home-flipping model, is now joining the fray.But his new company Homes2X has a twist: The seller gets to keep the profits, minus a fixed fee of 1.5% for the service.”For years, I have been an outspoken critic of the home flipping business,” said Hague,…