Opendoor identified the best cities for families by analyzing and averaging the number of OpenStreetMap “family friendly” tags within 3 miles of all addresses in a city where an Opendoor Brokerage operates. 

More borrowers are turning to adjustable-rate mortgages to save money as interest rates climb.

The percentage increase in Phoenix was second-highest in the nation, behind only Oakland, California.

The modest 1% decline could indicate the current housing cycle is reaching a bottom as mortgage rates recede from their recent high, the National Association of REALTORS® said. 

The median price of a new home sold during the month was up 5.9%, however, according to figures from the U.S. Census Bureau and the U.S. Department of Housing and Urban Development. 

Willow, a 14-home gated community in North Central Phoenix, is open for sales, Camelot Homes recently announced.

Nationally, the median sales price slid 2.9% from June but rose 8.1% from July 2021, while closed transactions were down 16.6% on a monthly basis and 26.3% on a yearly one, RE/MAX said in its National Housing Report.

A recent decline in mortgage rates could return some purchasing power to buyers going forward, National Association of REALTORS® chief economist Lawrence Yun said. 

Compass revealed big losses — to the tune of $100 million — in its second quarter report. And as a result, the firm will no longer offer equity or cash incentives to new agents.

Courtney Cates is joining the Southwest-Litchfield office of Coldwell Banker Realty Arizona as an affiliate agent.

Off-market real estate app DropOffer is moving into six new markets, including Phoenix, Atlanta, Houston, Dallas, Charlotte and Tampa.

The pace of housing starts for both single-family and multifamily residences was down on a month over month basis, the U.S. Department of Housing and Urban Development reported. 

Phoenix had the lowest rate of homebuyer competition in July.

The NAHB/Wells Fargo Housing Market Index fell for the eighth straight month in August, as the key measure of builder confidence indicated a pessimistic outlook. 

The brokerage’s new “communities” will provide its agents with specialized training, technology, coaching and referral opportunities. 

Homebuyers may catch a break this month as rates have come down nearly a point from the recent high on fears of a recession.