Demand Pushes Valley Year Over Year Home Price Gains to #1

By Angela Gonzales | Phoenix Business Journal Once again, Phoenix has reported the highest year-over-year gains in home price growth, well ahead of other key U.S. cities. With a 9% year-over-year gain in May among 19 cities measured by the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, Phoenix was followed by Seattle, at …

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Judge Upholds Ducey’s Eviction Relief After Landlord Sued

By Rebekah L. Sanders | Arizona Republic A Maricopa County Superior Court judge on (July 22) rejected a challenge to Gov. Doug Ducey’s eviction moratorium, which gives tenants facing hardship from COVID-19 the ability to remain temporarily in their homes if they file certain paperwork. Phoenix landlord Ann Gregory sued the governor and a lower-court …

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No Crash Predicted For Metro Phoenix Housing Market

By Catherine Reagor | Arizona Republic The Phoenix area’s housing market is showing no signs of crashing despite job losses and other economic hits because of COVID-19. The region’s home sales typically dip during the summer, as fewer buyers opt to brave triple-digit temperatures to check out and commit to houses. Now, with masks and …

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Maricopa County Nearly Doubles Existing-Home Sales in U.S.

Sometimes headlines like “Existing-Home Sales Climb Record 20.7% in June” make Fletcher Wilcox laugh. This was one of those times. Existing-home sales rebounded at a record pace in June, following three consecutive months of sales declines, the National Association of REALTORS® reported. Wilcox, a VP at Grand Canyon Title Agency, recently moderated his third Influencer …

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Forecast: Valley Office Sublease Space will Continue to Grow

By Corina Vanek | Phoenix Business Journal After a major increase in the amount of office space available for sublease in the Phoenix area, real estate experts from JLL expect that amount to only grow due to the coronavirus pandemic. Companies that leased space anticipating growth, or those that have moved large portions of employees …

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Craigslist Real Estate Scams Rise

It’s not a new issue, but it certainly is a bad one: real estate scammers on Craigslist. COVID-19 has not only reawakened “porch pirates” (who typically steal packages during the holidays), but inspired fraudsters to try and exploit mortgage forbearance futures. Recently, Scottsdale REALTORS® member Jolene Miller discovered that one of her vacant, for-sale listings …

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Arizona Employment Numbers Are Rebounding. Are You Ready?

By Fletcher Wilcox | VP, Grand Canyon Title On July 16, the Arizona Commerce Authority released its June 2020 employment numbers for Maricopa County. The report showed that after an avalanche of losses, jobs are starting to rebound. Between February and April, the number of people employed in Maricopa County dropped by 207,000. This drove …

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Valley Homebuilders Opening More New Communities

By Angela Gonzales | Phoenix Business Journal Even amid the spread of COVID-19, homebuilders are moving ahead with more new communities throughout the Valley. During the past 30 days, sales contracts shot up 28% at a time when demand typically falls during the hot summer months, said Jim Belfiore, founder of Belfiore Real Estate Consulting. …

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Custom Home Lot Sales Going Strong in Metro Phoenix

By Angela Gonzales | Phoenix Business Journal More than 100 custom home lots priced above $1 million have been sold in metro Phoenix during the past 12 months, and COVID-19 doesn’t seem to be impacting sales so far, according to data compiled exclusively for Phoenix Business Journal. Research by RL Brown Housing Markets shows 101 …

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Scottsdale Builder Reports Record June Sales

By Angela Gonzales | Phoenix Business Journal Taylor Morrison Home Corp. has reported the best month in the Scottsdale homebuilder’s history, despite the COVID-19 pandemic. The company finished June 2020 with a 94% increase in net sales orders year over year for a total of 1,715 and a monthly all-time high pace of 4.3 average …

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