Phoenix
Real Estate News

Fast Rising Unemployment in U.S. Greatly Increases Housing Rent Burden

Fast Rising Unemployment in U.S. Greatly Increases Housing Rent Burden

Zillow research is now reporting that American renters who work in food and retail industries can find themselves spending 40% of their annual income on housing costs if they are unable to work for two months Read More »


Driven by COVID-19 Housing Market Uncertainty, Zillow Offers Suspended in U.S.

Driven by COVID-19 Housing Market Uncertainty, Zillow Offers Suspended in U.S.

Given growing U.S. housing market uncertainty caused by the recent Coronavirus outbreak, Zillow Group announced this week it will pause home buying in all 24 U.S. markets where Zillow Offers currently operates in response to local public health orders related to COVID-19. Read More »

New Home Sales in U.S. Was on Strong Footing Prior to Coronavirus Outbreak

New Home Sales in U.S. Was on Strong Footing Prior to Coronavirus Outbreak

Sales of newly built, single-family homes fell 4.4 percent to a seasonally adjusted annual rate of 765,000 units in February 2020, coming off a sharp upward revision in January 2020. Read More »

Apartment Searches on Google Implode as Coronavirus Pandemic Grows

Apartment Searches on Google Implode as Coronavirus Pandemic Grows

RENTCafe.com is reporting this week that the number of sessions decreased by approximately 25% in the week of March 11-17, 2020 Read More »


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Global Property Spotlight

Brand New Residences Bring Modern Luxury Living to Paradise Island Bahamas

Brand New Residences Bring Modern Luxury Living to Paradise Island Bahamas

In the heart of breathtaking Paradise Island adjacent to Nassau, Bahamas, a very rare residential opportunity will soon be available. Opportunities like this are extremely limited on this 685 acre island paradise. Read More »

Last Updated March 27, 2020 8:00 AM ET

Phoenix Property News

According to the National Association of Realtors, U.S. existing-home sales climbed substantially in February 2020 after a slight decline in January.

The average annual gross rental yield (annualized gross rent income divided by median purchase price of single-family homes) among the 389 counties is 8.4 percent for 2020

As of the date of publishing this story, there have been over 115,000 confirmed Coronavirus cases around the world in 110 countries that are now reporting over 4,000 deaths.

According to the Mortgage Bankers Association's latest Weekly Mortgage Applications Survey for the week ending February 28, 2020, mortgage applications increased 15.1 percent from one week earlier.

According to the latest quarterly National Association of Home Builders' Home Building Geography Index, nearly two-thirds of multifamily construction in the fourth quarter of 2019 occurred in "blue counties" where Hillary Clinton garnered the most votes in the 2016 election.

According to Freddie Mac's latest Primary Mortgage Market Survey, the 30-year fixed-rate mortgage averaged 3.45 percent in late February 2019.

Over 1.52 million U.S. single-family homes and condos in the United States are vacant, representing 1.5 percent of all homes.

U.S. builder confidence in the market for new multifamily housing remained unchanged in the fourth quarter of 2019.

Strong demand from both domestic and foreign investors, combined with moderate economic growth, is expected to keep capitalization rates for U.S. commercial real estate assets broadly stable in 2020.

Twenty-six percent of online home searchers looked to move to another U.S. metro area.

The National Association of Home Builders' latest 55+ Housing Market Index is reporting this week that U.S. builder confidence in the single-family 55+ housing market dropped four points to 68 in the fourth quarter of 2019.

According to new data by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau, sales of newly built, single-family homes in the U.S. declined 0.4 percent to a seasonally adjusted annual rate of 694,000 units in December 2019.

According to new research by Zillow, the total value of every home in the U.S. is $33.6 trillion, nearly as much as the GDP of the two largest global economies combined -- the U.S. ($20.5 trillion) and China ($13.6 trillion).

According to a new U.S. housing report from Redfin, just 9% of offers written by Redfin agents on behalf of their homebuying customers faced a bidding war nationwide in December 2019, down from 12% a year earlier and setting another new 10-year low.

There were 49,898 U.S. properties with foreclosure filings in November 2019, down 10 percent from October 2019 and down 6 percent from a year ago. Nationally, one in every 2,713 properties had a foreclosure filing in November 2019.

Zillow research is reporting this week that after strong home value growth characterized a frenzied housing market in 2017 and 2018, this year's slowdown felt like a welcome return to normalcy.

According to a new report from Redfin, ten percent of offers written by Redfin agents nationwide on behalf of their homebuying customers faced a bidding war in November 2019, down from 29% a year earlier and hovering at the 10-year low for the 5th consecutive month.

According to CoreLogic's latest Home Price Index for October 2019, U.S. home prices rose both year over year and month over month. Home prices increased nationally by 3.5% from October 2018. On a month-over-month basis, prices increased by 0.5% in October 2019.


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