Real Estate Market News

Here’s a periodic update from Toma Partners co-founder Mihai Toma:

OPINION SEGMENT: There are strong signs that modest depreciation in home values are just around the corner, such as the fact that demand has been consistently lower than supply for nearly a year. There is one positive development that could translate into increased demand. Buyers with a short sale or foreclosure will no longer have to wait 7 years to obtain a conventional loan; the wait time will soon be 4 years.

Scottsdale/Phoenix

  • Annual Appreciation: 4.0%, 8.2%
  • Recent Appreciation Trend (Rate of Change): -3.8%, 3.8%

Paradise Valley/Cave Creek/Fountain Hills

  • Annual Appreciation: -3.6%, -1.1%, 9.6%
  • Recent Appreciation Trend (Rate of Change): -9.0%, -3.7%, 5.6%

Mesa/Glendale/Peoria

  • Annual Appreciation: 4.1%, 04.6%, 6.9%
  • Recent Appreciation Trend (Rate of Change): 0.2%, 3.1%, -0.1%

Overall Market

  • Annual Appreciation: 7.2%
  • Recent Appreciation Trend (Rate of Change): 1.7%

More Data & Other Cities : Click here to SEE MORE RAW DATA

 

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About Mike Garland

In this age of software, data bases and cloud technology, residential real estate provides an anchor to physical reality. At least for now, there is no virtual reality where people can share a meal, a swim in the pool or laugh in the living room with a view of Camelback Mountain the way they can in a luxury home. I enjoy helping people find and sell homes in the Phoenix Valley. With my team we specialize in residential real estate in the Biltmore area, Paradise Valley and the West Valley. I also head up the Toma Partners relocation group.
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