As home prices continue to break growth records, a panel of housing experts and economists surveyed by Zillow® does not believe the market is in a bubble. The latest Zillow Home Price Expectations Survey1 polled more than 100 experts from academia, government and the private sector to gather their opinions on the state of the housing market and future growth, inflation … [More]
North Scottsdale Mega-Mansion Sells for $28.1M, Setting Record for Most Expensive Home Sold in Arizona
The record for the most expensive home sold in Arizona didn’t stand for long. Fidelity National Title Agency is pleased to announce it helped close on a $28.1 million mansion at 21264 N. 113th Place in Scottsdale. Built by Scottsdale-based Mast Luxury Homes on 4.6 acres, the 21,150 SF residence boasts eight bedrooms, two elevators, 12 full baths and six half baths. … [More]
Inventory Stages a Comeback While Home Prices Soar to All-Time High
New data suggests the U.S. housing market hit a turning point in its supply struggle in May, as active inventory recorded the first year-over-year increase since June 2019, according to the Realtor.com® Monthly Housing Trends Report released today. At the same time, the median national home price soared to an all-time high of $447,000 and buyers snatched up listings a week … [More]
Eye on Arizona’s Economy
From inflation and Arizona’s local real estate market to the national energy scene and other global geopolitical issues, every day seems to bring new economic news to the forefront, but with little real-world context into how these developments will affect growth at the grassroots level. Putting Issues into Context At Alliance Bank of Arizona’s most recent Economic Forum, … [More]
Phoenix Metro Sees 3.8% Employment Growth Since Last Year
At the national level, many key employment indicators in the U.S. look similar to before the COVID-19 pandemic, and robust employment growth plays a part in that. But the impact the coronavirus had on employment can’t be overstated. Data from the U.S. Bureau of Labor Statistics shows that job losses in the spring of 2020 were comparable to those of the Great Depression. The … [More]
Pricey Suburbs Top Zillow’s List of Most Popular Markets This Year, Gilbert Is Tops in Greater Phoenix
Woodinville, Washington, is Zillow's® most popular market of early 2022, leading a list of fast-growing suburbs as the most in-demand places to start off the year. As more evidence emerges that remote work is a driving force behind fast home value growth in the suburbs, expensive suburban markets are seeing strong demand. Gilbert, Arizona is the top suburb by price for the … [More]
The Housing Market Is as Competitive as Ever Despite 53% Rise in Mortgage Costs
The housing market is as competitive as ever, according to the latest Zillow® Real Estate Market Report.i Buyer demand has been strong enough to keep the market moving at a record pace, even after a massive spike in mortgage rates. Year-over-year home value growth set a record for the 13th consecutive month in April. The typical U.S. home is worth … [More]
States with the Highest Job Resignation Rates, Arizona Is #3
With Americans quitting their jobs at record rates during the so-called “Great Resignation,” WalletHub released its report on 2022’s States With the Highest Job Resignation Rates, along with accompanying videos and expert commentary. WalletHub ranked the 50 states and the District of Columbia based on how frequently people are leaving their places of employment. Below, you … [More]
