In Phoenix, home prices posted a 2.09% year-over-year gain in December, while they slid 0.06% month over month. 

NAR said it reached an agreement with Phoenix REALTORS® that brings the local association into compliance with the NAR constitution and bylaws.

At the same time, builder sales expectations for the next six months posted their second-largest drop since the sentiment index started in 1985. 

In the wake of this news, Redfin also laid off 450 employees.

Yun expects mortgage rates to drop to 6% by the end of the year.

President Donald Trump’s 25% tariff on Canadian and Mexican goods will harm housing affordability in the United States, the National Association of Home Builders (NAHB) said in a statement over the weekend.

The median existing-home price for all housing types in December rose 6% from its year-ago level.    

Willis initially served as president from 2002 to 2005 and as CEO from 2005 to 2014. He then resumed the post of CEO in November 2023 and took over as president again in March of last year.

Nationally, home sales were up 13.3% year over year and 4.4% month over month, RE/MAX said. 

Those regrets may explain why the survey also found that 59% of respondents said they plan to move in 2025.

In 28 cities across the nation, the typical local family can afford less than 1% of for-sale properties. Among them: Glendale and Scottsdale.

Matt Widdows, founder and CEO of Scottsdale-based HomeSmart, was the highest ranking Phoenix leader on the list at No. 25.

In its last reading before the end of the year, the National Association of REALTORS®  Pending Home Sales Index posted its fourth consecutive monthly increase in November. 

The National Association of REALTORS® will move to revoke Phoenix REALTORS’® charter following the local association’s refusal to “categorically withdraw” MLS Choice.

The median-sales price slid from $425,600 in October to $402,600 last month. 

Matthew Gardner shares his predictions for the housing industry in 2025.