Current Market Data

Mortgage rates dip below 7%, bring relief to homebuyers

Buyers are finally getting some relief as mortgage rates dip below 7% for the first time in five weeks, according to a Redfin report. 

Housing starts rebound in April after March slump 

New-home construction jumped 5.7% month over month after a soft March, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development. 

Hotels overtake offices in residential conversions

According to a new report from RentCafe, hotels have overtaken offices as the most likely spaces to be converted into new apartments.

Inventory increases by nearly 50% in Maricopa County

Active inventory rose 46.6% in Maricopa County last month, according to the latest Market Update from Phoenix REALTORS®.

The 10 most expensive new listings in Arizona

Agents from RETSY listed four of the 10 most expensive new listings in Arizona, including a $21.75 million estate in the Silverleaf Upper Canyon in Scottsdale.

Monthly home payments set new record in March

Monthly home payments hit new records last month reaching an all-time high of $2,747, an 11% increase from last year.

Home sales decline in Maricopa County

Closed home sales decreased year over year in Maricopa County, according to the latest Market Update from Phoenix REALTORS®.

The 10 most expensive new listings in Arizona

The priciest new listings in Arizona include a $15,000,000 stone estate with donated beams from the Hopi Nation and repurposed materials from a 15th century Spanish mission.

Arizona home values have more than doubled in the past decade

The state where home values have increased the most was Idaho, which saw a 171.03% increase in home values from 2013 to 2023.

Renovation spending has jumped 60% since 2020

In 2020, median renovation spending was $15,000. That amount increased by 60% in three years, with the median home renovation costing $24,000 in 2023.

This is the ‘dream living room’ — to Arizonans

Furniture retailer Joybird surveyed over 2,500 Americans and asked them to describe their dream living room.

The best week to sell this year: April 14 – 20

Prospective sellers should prepare to jump on the market — the week of April 14 through 20 will be the best time to sell this year.

NAR: Existing-home sales post biggest gain in a year 

Sales rose 9.5% from January to a seasonally adjusted annual rate of 4.38 million.

Don’t paint your house these colors if you’re trying to sell

There’s a reason many homeowners opt for neutral shades when trying to sell their house — certain flashy colors may be off-putting to buyers.

Opendoor: A portrait of first-time homebuyers in 2023

Many buyers entered the housing market for the first time in 2023. But who were these first-timers, and what did their homebuying experience look like?

U.S. housing supply receives boost, marks first increase in eight months

With the spring market right around the corner, the U.S. housing supply finally got a boost. 

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