Goldman Sachs Making UnLikely Forecasts About AZ Housing Market
There was a story that ran this week that quotes Goldman Sachs making all kinds of unlikely forecasts. It has created quite a stir and has a lot of people talking. Its description of the current Phoenix market bears little comparison with the real world. Some quotes are: Goldman Sachs expects home values to worsen through 2023 amid continued skyrocketing interest rates and declining housing prices Four US cities will suffer the most catastrophic dips, drawing comparisons to
Phoenix Buyer Market - Aaaand It’s Gone
For Buyers: Last year, traditional buyers took a back seat to an influx of cash investors and speculators who outbid them. Then mortgage rates increased and suppressed their power even more. This was especially prominent in the market under $500K where owner occupant buyers made up just 56.8% of sales in June (normally 70-75%), and investors took 31% (normally 11-17%). As of November, traditional buyers have once again returned to 71% market share under $500K, and investors h
