July 2020 Phoenix, Arizona Real Estate Market Update

07/15/20 • 7 min

🔥 An ALL NEW market update is out! 🔥 And with the real estate market in Phoenix being a HEAVY seller’s market and DEMAND through the roof, this is not a video you want to miss! Below is a brief summary of what Danny covered. 👇🏻 – Just over 7,000 homes listed for sale; down 43% from last year. – Around 13,000 homes under contract; up 20% from last year. – Demand is back where it should be had COVID-19 not even hit. – Are you a seller not getting enough showings or offers? You’re simply priced wrong. – Median sales price is up 9% from last year. – TONS of appraisal issues where homes are being bid up in price due to the multiple offers, then coming in nowhere close to contract price. – Our advice on addressing the appraisal issues up front. – How to set yourself a part from other buyers searching for homes. – Why markets are constantly seeking to find balance. If you have a question about this video that you want answered, leave it below! Thanks for watching! Visit Our Website: www.myriadaz.com/ Follow us on Facebook: www.facebook.com/MyriadRealEstate/

Previous Episode

Will The Spike In COVID-19 Cases Cause More Layoffs? | The 5

Another episode of The 5 is now live! Check out the topics we touched on…↘↘ 1.New unemployment rate is down to 11.1%, but it doesn’t tell the whole story. 🤔 2.Real-time economic indicators on job listings, credit-card spending, retail foot traffic, and more are starting to suggest that the economy has begun to weaken again. 🛒 3.Is the death of the 60/40 portfolio looming? Some are reporting exceptionally low yields on bonds and in some cases even negative yields. 😵 4. If you are currently a seller or a buyer, it certainly feels like there are a ton of buyers in the market right now. However, the demand for homes is right where it should be! 🏠 5.After two months of strong growth, mortgage applications declined for the second week in a row. 👎🏻 Watch the entire episode on YouTube: https://youtu.be/SIoaLITszzc

Next Episode

What FICO's Change In Credit Scoring Means For You | The 5

Happy Friday! 👊🏻 I just released a new episode The 5 and wanted to give you a little detail about what I updated you on this week: 1. Second quarter earnings – they are set to be the worst in more than 10 YEARS! 2. The Senate is still contemplating a 2nd stimulus check coming – Senate Majority Leader Mitch McConnell was quoted saying that they will begin debating an additional rescue package which will include another direct payment to those in need. 3. Change in FICO scoring – changes that are taking place will affect the way creditors and banks evaluate your overall credit. They are going to start looking at your entire credit story rather than just a snapshot in time. 4. Real Estate – The Cromford Report stated that there was a significant change this last week in inventory. A total of 2,103 homes were added to the MLS in the last 7 days. This is up over 19% compared with this same period in 2019, and up over 8% compared with the same 7 days in 2018. 5. Mortgages – applications are back up over 5% last week while refinancing was up 12% from the previous week. Forbearance has dropped and is now at 6%. Let me know below if you have any questions or comments on this week’s episode! See you next Friday! Watch on YouTube: https://youtu.be/WI9M_0phNkY Website: http://www.MyriadAZ.com/ Facebook: http://www.Facebook.com/MyriadRealEstate Daniel's Instagram: https://www.instagram.com/dannybrownaz/ Myriad's Instagram: https://www.instagram.com/myriadaz_/