What to Expect for End of the Year Home Prices

If you’re in the market for a new home or are thinking of selling, you might be wondering what the market is going to look like towards the end of the year. We’re following the market very closely …

Market Summary Update

Months of Supply 

The market is shifting, meaning “months of supply” should increase. Russ Lyon Sotheby’s is monitoring this very closely. Months of supply takes into account the time it takes to sell available inventory at the monthly sales rate …

Why move in a shifting market?

Buying a home is one of the biggest decisions you’ll ever make. Whether it’s your first home or moving to another home, Russ Lyon Sotheby’s can help make the transition as seamless as possible.

As you’re contemplating …

Cost to Rent vs. Buy in 2022

**Owner Occupant Buyers Retreated in 2021

For Buyers:

As the cost of purchasing a home increases in Greater Phoenix, the question of whether to rent or buy becomes harder to answer for some buyers. The …

Searching Zillow for houses seems to have become an American pastime especially throughout the pandemic when people were looking for more space for a home office and a bit more breathing room to escape from screaming children, loud televisions, and even their pets, while being cooped up. 

…

When it comes to buying or selling your Sotheby’s Phoenix home, you’ll come across real estate terminology that’s used to determine valuation. Below are common terms you’ll probably see and what they mean.

Comparative Market Analysis (CMA)

A licensed real estate professional at Sotheby’s Phoenix prepares a CMA. …

November was a good month for new home sales across the country. Newly constructed home sales posted a strong increase last month. The Commerce Department says new single-family home sales increased 5.2 percent in November. At Russ Lyon Sotheby’s, it looks like this trend will continue into 2017.

Last …

Realtor.com predicts home prices in the Valley will jump to 5.9 percent in 2017 and sales will rise 7.2 percent. In return, that should make Phoenix the #1 housing market next year. The healthy housing market at Sotheby’s Phoenix comes from a steady growth in sales and prices increases, not …

I’m sure you’ve seen the advertisements — “We pay cash for homes” or “We Buy Ugly Homes.” You might be curious what this is about and whether you should use a company like this with your McCormick Ranch home for Sale. Well, there’s the old saying, if it sounds too …

While it looks like the Federal Reserve will raise interest rates, it doesn’t look like it’ll impact the housing market around the country or at Sotheby’s Scottsdale. It’s possible the federal fund's rate will rise to between 0.5% and 0.75% this week. If this happens, it’ll be the first increase …