Have Plans for the 4th of July?

Celebrate our nation's independence with fireworks, food, music and patriotic remembrances across the Valley. Here are a number of fireworks shows scheduled where you can celebrate the 4th of July with friends and family.

Market Summary for the Beginning of June

Starting with the basic ARMLS numbers for June 1, 2018 and comparing them with June 1, 2017 for all areas & types: Active Listings (excluding UCB): 16,018 versus 18,476 last year - down 13.3% - and down 1.9% from 16,329 last month Active Listings (including UCB): 20,809 versus 23,281 last year - down 10.6% - and down 2.9% compared with 21,440 last month Pending Listings: 6,608 versus 7,324 last year - down 9.8% - and down 10.6% from 7,393 last month Under Contract Listings (including Pending, CCBS & UCB): 11,399 versus 12,129 last year - down 6.0% - and down 8.8% from 12,504 last month Monthly Sales: 10,081 versus 9,858 last year - up 2.3% - and up 9.8% from 9,178 last month Monthly Average

Is Greater Phoenix “Overvalued”? Mortgage Payments Are Lower Than They Were 13 Years Ago

For Buyers: Interest rates have been increasing along with the inflation rate as of late, which has spawned a string of headlines about affordability. While the rate hike has knocked some buyers out of the market without a doubt, general affordability hasn’t taken a big hit yet. According to the National Association of Home Builders and Wells Fargo, buyers making the median family income could still afford 65% of what sold in the Valley last quarter. A measure between 60-75% is considered normal. Let’s look at the historical cost of a 1,900sf home in Greater Phoenix, for example. In March 2005, a home that size would run $281K on average. Today that same home would be $309K, $28,000 more

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TO CONTACT OUR TEAM PLEASE CALL OR EMAIL US:

CRESTMARK REALTY GROUP

RAEGEN JOHNSON

Realtor

C:  602.330.5362

O:  602.362.5484

E: Raegen@RaegenJohnsonGroup.com

SARAH HERR

Realtor

C: 602.499.3175

O: 602.362.5484

E:Sarah@RaegenJohnsonGroup.com

JULI FEINBERG

Broker

O: 480-342-8889

E: Julif@jclam.com

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