Phoenix home prices are expected to decline in the coming months, according to a recent forecast by Goldman Sachs. The financial firm predicts a roughly 3% drop in the Valley’s median home prices during the rest of 2024, citing high mortgage rates and decreased buyer activity as the main drivers. While the market has seen…
Homebuyers in several U.S. cities are seeing a boost in purchasing power, thanks to recent declines in mortgage rates and home prices stabilizing in some markets. According to new data, cities such as Phoenix, Las Vegas, and Austin are experiencing conditions where price drops and wage growth have made homes slightly more affordable. For example,…
Arizona’s real estate remains stable with steady prices, rising inventory, and selective buyer activity amid evolving market conditions.
Arizona real estate evolves as AI, apps, and blockchain boost investor speed, insights, and efficiency amid rising tech and data privacy demands.
An employee at an Arizona drug and alcohol rehabilitation facility has been accused of illegally buying homes that previously served as sober living environments. Authorities allege the employee took advantage of vulnerable individuals who were struggling with addiction, transferring ownership of the properties under suspicious circumstances. The investigation revealed instances where paperwork was allegedly falsified…
A California real estate developer has been sentenced to six years in federal prison after admitting to bribing a Los Angeles County official with cash, concert tickets, and other benefits in exchange for help securing approval for a major residential project. The developer, David Lee, pleaded guilty to participating in a pay-to-play scheme involving former…
Meritage Homes (NYSE:MTH) recently reported its second-quarter earnings, reflecting steady demand for new homes despite ongoing affordability challenges in the housing market. The company managed to post better-than-expected revenues and earnings, with management noting that incentives and price adjustments have kept buyer interest strong. Meritage’s performance stands out among other home builders, with many in…
A former professional poker player, Cory Zeidman, has been sentenced to more than eight years in prison for running a fraudulent sports betting scheme that scammed victims out of more than $25 million. Zeidman and his associates operated a national marketing campaign between 2004 and 2020, luring people into paying for supposedly “inside information” on…
Canadian homebuyers are pulling back from the U.S. Sunbelt markets, causing concern among realtors in popular destinations like Arizona and Florida. High home prices, the unfavorable exchange rate, and new U.S. tax regulations have contributed to the slowdown. According to the National Association of Realtors, Canadian purchases of U.S. real estate have dropped dramatically, falling…
A California man has been indicted by a federal grand jury for allegedly running a real estate scam that targeted property owners in Southern Arizona. The U.S. Attorney’s Office says the man posed as a property owner or agent and listed homes online without permission, collecting deposit payments from interested buyers or renters before disappearing…