Buy or Sell Homes in South East Valley of Arizona

Everyone wants a crystal ball especially in Real Estate- but the closest thing we have is the opinions of the experts and economist.  In the second half of this year, the housing market surged with activity. Today, real estate experts are looking ahead to the winter season and the forecast is anything but chilly. As Lawrence Yun, Chief Economist for the National Association of Realtors (NAR), notes:“It will be one of the best winter sales years ever.”   The typical winter slowdown in the housing market is simply not on the radar for the 4th quarter of 2020 and going into 20121. While today’s historically low mortgage rates are expected to remain low, they won’t be this low for much longer. This could be the last chance for homebuyers to secure such low rates, and they’re ready to take action. In a recent article, Bankrate explained: “If you’re looking to buy a home…expect mortgage rates to remain low into 2021. However, the possibility of rates falling to 2.5 percent or l...

Navigating uncharted territory without a compass is challenging at best. Nothing about this year’s real estate activity fits into the usual cyclical patterns. Data companies are updating their projections seemingly daily. Projections are based on trends and it takes at least 3 weeks to see an emerging trend. Before the trends, there is consumer sentiment. Home has never been more important. Today we live, work, play, and teach at home. This is why real estate is the shining star in the midst of so much bad news. With a 58% increase in new starts from June to July, multi-family new builds made up the majority of the 22.6% new housing starts in July over June. The new builds are the only thing keeping prices from skyrocketing out of control. (Bisnow) In July, single family starts were up 7.4% year over year. (Elliot Eisenberg) New single-family sales are were up in July 36.3% year over year. (US Census Bureau & HUD) Resale closings in July were up 24.7% from June which were up 20.7% ...