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Market Updates | Elite Results Realty Blog

Monday, March 7, 2022   /   by Vyral Marketing

The Fate of Interest Rates in the Near Future

What’s going to happen with interest rates in the near future?

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What’s going to happen with mortgage interest rates this year? To answer today’s question, I think it’s important to look at what has happened in the past. Over the last year or so, we’ve seen interest rates plummet due to the pandemic, and mortgage rates dropped significantly when the Federal Reserve was pumping tons of money into mortgage-backed securities.
"The days of getting a 2% interest rate are over."

More recently, the Fed has slowly been removing the amount they’re putting into buying those securities, which caused interest rates to climb. In addition to that, we’re also noticing a lot of volatility in the stock market; people are pulling money out of stocks and buying bonds.
The trajectory of interest rates has been going up significantly as far as mortgages are concerned. ...

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  buying a home, selling a home, real estate market, market updates, owning a home

Tuesday, February 22, 2022   /   by Vyral Marketing

What’s Happening With the Market in 2022?

Here’s what you should know about the 2022 real estate market in Phoenix.

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What can you expect from the Phoenix real estate market in 2022? Before we get to that, let’s quickly recap the 2021 market.

Last year’s market was defined by low inventory, strong demand, low-interest rates, and a strong economy to create a very hot seller’s market. It was a frenzied situation where multiple offers were common, and prices soared at astronomical rates.

So far in 2022, we have even lower inventory than we had last year. It’s down by 5%. In Gilbert, there are about 150 homes for sale out of over 80,000 single-family homes. Two out of every thousand homes are for sale in Gilbert.
"The economy remains strong so far in 2022."

Demand is just about as strong as it was last year as well. That’s good news for home prices. Although interest rates are up from last yea. ...

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  market updates

Thursday, September 30, 2021   /   by Vyral Marketing

How Fall Will Affect Our Market

This is what we can expect from our market heading into fall.

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What can we expect in the real estate market this fall? With the temperature starting to cool and the leaves changing — Oh, wait, we don’t have any of that in Arizona. With the cacti staying the same and the kids going back to school, fall is upon us.
"The number of sales drops this time of year, but we still have plenty of people buying and selling."

Spring is typically our hot market as everyone tries to get into a home before summer. Now that school has started, we can expect the demand for single-story homes to grow as the snowbirds, who tend to like more accessible houses, come back into our market.
The number of sales drops this time of year, but we still have plenty of people buying and selling. If you are looking to buy a home, now is a great time since the inventory tends to pick up this time of year, and. ...

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  market updates

Monday, March 29, 2021   /   by Vyral Marketing

Why We’re Seeing Both High Demand and High Prices for Homes

There are a number of reasons why both demand and home prices are continuing to rise. Here’s what’s happening.

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Many of my clients have been wondering why demand is staying strong even though prices continue to skyrocket. There’s not really a simple answer; instead, this phenomenon is occurring for a variety of reasons, including low interest rates, an influx of people moving into the Phoenix area, and the ongoing pandemic.
Interest rates are at their lowest in history, which has made homes more affordable in spite of increasing prices. On top of this, many homebuyers are moving in from different areas of the country. Arizona has been an affordable place to live in for years, and since so many people are now able to work remotely, more and more have taken the opportunity to move to our great state.
"Interest rates are at their lowest in history, which has made homes more a. ...

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  market updates

Monday, November 9, 2020   /   by Vyral Marketing

I Hate to Burst Doomsayers’ Bubbles, but the Bubble Isn’t Nigh

If you’re afraid of an impending housing bubble, ponder these three points.

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There are three main factors to look at when determining whether or not we’re heading toward another real estate bubble, the first of which are vacant homes. Before the burst of the 2000s bubble, there were tens of thousands of homes sitting vacant. Many homes were purchased on speculation, meaning that folks would buy houses and do nothing with them simply in the hope that prices would rise dramatically, allowing them to sell for top dollar later down the road. That strategy worked well for maybe a year at best, then it completely fell apart.
Thankfully, unlike in 2006, there are very few homes sitting vacant at the moment, and here’s why that matters: If we did experience a sudden downturn, the market wouldn’t immediately be flooded with these ‘speculation’ properties. In today&. ...

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  real estate market, market updates