News items about home prices, mostly in Arizona
As anyone who is a millennial or younger knows, it feels damn near impossible to buy a house right now. Millennials graduated into the Great Recession, then watched as home prices vastly outpaced wage increases over the next 15+ years. The pandemic brought historically low interest rates, but those came with skyrocketing prices. Then, the…
Rick ShargaMay 16, 2025 at 6:56 AMKey takeawaysSellers have had the advantage in the housing market for several years, largely due to low levels of available homes.However, many experts see market conditions starting to shift in buyers’ favor.Whether conditions favor buyers or sellers may depend on individual local market dynamics.Homebuyers, it seems, haven’t been able…
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…
Nearly every Arizona-based public company took a hit last week after President Donald Trump announced tariffs on most of the world’s imports, but Wednesday’s delay of most of those tariffs was a change of course.Trump’s decision to set a 90-day pause on tariffs the administration had previously announced gave Wall Street a jolt, with the…
While the cost of a new home continues to rise in Arizona, it’s in the middle of the pack when it comes to comparing states with the highest home ownership costs.That’s according to a recent study from Roofing Craftsmen, a company that specializes in residential roof replacement. The study identified the most expensive places to…
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…