For most of us, 2022 was a year spent watching the housing market closely. As mortgage rates fluctuated and home prices continued to rise, many began to expect that the real estate industry was in trouble. However, a better word would be “transition.” Although inflation continues to be a concern, consumer sentiment remains strong. According to the most recent data from the U.S. Bureau of Labor Statistics, employment numbers are holding steady in our region. Stable employment is good for … [Read more...] about Real Estate Remains Fundamental to Local Commerce
George Beitzel
Unprecedented Home Prices Require a Careful Strategy
If you’ve tried looking for a home or selling your current one recently, then you know the housing market continues to be as hot as ever, with some of the highest prices we’ve seen. According to the Multiple Listing Service provided by the Prescott Area Association of REALTORS (PAAR), during the first quarter of 2022, the average sales price of homes in the area rose nearly 23% year-over-year, to $546,866. Homes in Prescott Valley experienced the largest increase in average price, reporting a … [Read more...] about Unprecedented Home Prices Require a Careful Strategy
Will the New Year Deliver Another Hot Real Estate Market?
For those in the business of real estate, 2021 was among the fastest-moving markets in history throughout the Quad Cities area. Some of the statistics are actually hard to believe. However, the unrivaled Multiple Listing Service provided by the Prescott Area Association of Realtors (PAAR) reveals that, last year, homes in this area spent just 11 days on the market. That is half the time it took homes to sell in 2020. Not only is home inventory flying off the shelves, the median price buyers … [Read more...] about Will the New Year Deliver Another Hot Real Estate Market?
