Arizona’s real estate market shows stable prices, rising inventory, slower sales, and growing rental demand, offering both risks and opportunities.
Mortgage interest rates have shown slight movement, with the average 30-year fixed rate currently around 7.24%, reflecting a modest increase from earlier this month. Rates for 15-year fixed mortgages hover near 6.67%, while 30-year jumbo loans remain slightly lower at about 7.20%. Fluctuations in rates are influenced by broader economic indicators, including inflation data and…
Arizona real estate sees rapid tech adoption via AI, blockchain, and new platforms enhancing investment, management, and market insights.
**PCE Inflation Rises in August** New data shows that the Personal Consumption Expenditures (PCE) price index, the Federal Reserve’s preferred measure of inflation, rose in August. Core PCE, which strips out volatile food and energy prices, increased 0.1% from the prior month and 3.9% over the past year. This marks a continued slowing in inflation’s…
Mortgage interest rates have remained relatively stable this week, following a period of sharp fluctuations earlier this year. As of today, the average rate for a 30-year fixed mortgage holds steady just above 7%, while 15-year fixed rates are slightly lower, hovering around 6.5%. Market watchers are closely monitoring inflation data and Federal Reserve signals…
**South Korea’s Inflation Slows in May** South Korea saw its inflation rate slow in May, for the first time in three months. According to data from Statistics Korea, consumer prices rose 2.7 percent on-year in May, compared with a 2.9 percent increase in April. Core inflation, which excludes volatile food and energy prices, also rose…
New home sales in the United States posted a notable increase, reflecting growing confidence among buyers despite higher mortgage rates and affordability challenges. The latest figures show that lower inventory in the resale market is pushing more people toward new construction homes, and homebuilders are responding by offering incentives and discounts to attract buyers. Analysts…
Hundreds of people who bought tickets for a Phoenix home raffle are expressing frustration after learning they will not be receiving refunds. The raffle, organized by a company called United Way Sweepstakes, promised participants the chance to win a multimillion-dollar home. However, after failing to sell the required number of tickets, the raffle was abruptly…
Arizona’s evolving real estate laws impact taxes, zoning, rentals, and affordability, creating both challenges and new investment opportunities statewide.
Arizona’s booming real estate market grows with major housing projects, transit expansions, and smart urban planning in 2024.