News items about home prices, mostly in Arizona
After years of rapid price growth and limited inventory, the Phoenix housing market is finally shifting in favor of buyers. A growing supply of homes for sale—combined with longer time-on-market and more price cuts—has given buyers increased leverage in negotiations. Experts attribute the change to higher mortgage rates and affordability concerns cooling demand, leading to…
Homebuyers are finally gaining leverage in the Phoenix housing market after years of being squeezed by rising prices and stiff competition. Inventory is growing, homes are taking longer to sell, and more sellers are cutting prices — trends that mark a significant shift from the chaos of previous years when bidding wars were standard and…
Prospective homebuyers in Kansas are facing steep increases in mortgage payments compared to just three years ago. According to a recent report, monthly payments have surged by 69.1%, mainly due to higher home prices and increased mortgage interest rates. In 2020, the average monthly mortgage payment in Kansas was around $974, but that number has…
Prospective homebuyers in Kansas are facing steep challenges as mortgage payments have surged by 69.1% compared to three years ago, according to a recent report. This spike is due to a combination of climbing home prices and higher interest rates, making homeownership increasingly unaffordable for many would-be buyers, particularly first-timers. The average monthly mortgage payment…
Prospective homebuyers in Mississippi are facing a significantly steeper challenge compared to just a few years ago, as mortgage payments have surged by nearly 48.5% since 2020. Driven by a combination of rising home prices and higher interest rates, the average monthly mortgage payment in the state has jumped from $906 to about $1,345. Mississippi,…
As housing prices continue to climb across the United States, more affluent individuals are choosing to rent instead of purchase homes, particularly in major cities. Recent data reveals that cities such as San Francisco, New York, and Washington, D.C., now have some of the highest percentages of wealthy renters—defined as households earning $150,000 or more…
As housing prices continue to soar, more high-income Americans are choosing to rent instead of buy, with some cities seeing a significant shift in “rich renters.” A new report revealed that cities like Seattle, San Francisco, and New York now have the highest percentages of renters earning over $150,000 annually. This trend is largely fueled…
Phoenix home prices are experiencing modest growth as the real estate market stabilizes, according to recent data. After the pandemic-driven housing boom and subsequent cooling, the market appears to be returning to more typical seasonal patterns. Analysts say home prices in the Phoenix metro area have increased by about 1.5% over the past year, a…
Home prices in the Phoenix area are showing modest growth as the real estate market begins to stabilize following recent fluctuations. According to the latest data from the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, the Phoenix metro saw a 1.9% annual increase in home prices. Despite the growth, the city’s housing market…
After a period of volatility, the Phoenix housing market is showing signs of stabilization, with home prices experiencing modest growth. According to the latest data from the S&P CoreLogic Case-Shiller Index, Phoenix saw a 1.1% year-over-year increase in home prices as of March 2024, signaling a return to more typical market conditions. Industry experts say…