Nancy WittenbergMaricopa unemployment drops to 3.3% while national rates rise. Treasury inversion signals recession risk, mortgage rates swing, CMI city rankings shift, and Valley prices fall 4.2%. Here’s what buyers and sellers must know.
Nancy WittenbergMajor changes are coming to the real estate industry in August 2024, requiring buyers to sign employment agreements outlining agent compensation. Meanwhile, the Greater Phoenix housing market is shifting from spring momentum to summer slowdown. Seller incentives are rising, price reductions are increasing, and outer Valley cities are moving into balanced and buyer’s markets. From Northwest growth near Surprise and Peoria to water planning in the White Tank/Grand Avenue corridor, here’s what buyers and sellers need to know — plus thoughts on student loan forgiveness and long-term homeownership wealth.