A second consecutive month of increases in the S&P CoreLogic Case-Shiller U.S. National Home Price Index could indicate a reversal of the negative trend that began last year. 

The number of Phoenix sellers making concessions to buyers is up from last year.

The incoming executive has held similar roles at BlueLinx Corp. and Extended Stay America. 

Despite solid demand, a dearth of homes for sale kept transaction numbers muted in the association’s most recent report on pending sales. 

Ample residential, industrial and commercial construction makes the Southwest city a hub for real estate development, beat out by only Texas cities.

A shortage of existing inventory continues to drive buyers to new construction. 

Multiple-offer situations have returned with the spring buying season while distressed and forced sales are “virtually nonexistent,” the National Association of REALTORS® said.

The hire follows the December 2022 firing of the homebuilder’s senior vice president for field operations, who had been tapped to become COO on Jan. 1. 

Single-family permits also posted a gain, indicating even more new homes are headed to today’s supply-constrained housing market. 

Homebuilder optimism was buoyed by continued shortages of new housing inventory, the National Association of Home Builders reported. 

Phoenix’s April average home value rose, while pending sales fell from March.

Realtors will be required to complete two hours of training every three years beginning in 2025. 

The mortgage industry decried the proposed loan-level pricing adjustment for borrowers with higher debt-to-income ratios. 

Phoenix-based residential real estate agency The Brokery celebrated the grand opening of its new office in Scottsdale with a ribbon cutting on May 5.

Interest rates on mortgages of all types declined last week, spurring an uptick in borrowing, the Mortgage Bankers Association reported. 

Nearly 800 real estate professionals attended the event, where Berkshire Hathway revealed that the company closed 10,854 transactions in 2022 with a sales volume of over $7.2 billion.