August 2020 Phoenix Real Estate Statistics from the ARMLS: The current state of our housing market is remarkable, even after our unemployment numbers rose above 12% in April and the U.S. economy contracted nearly 33% in the second quarter. Although many economists predicted a shutdown in our housing market, the opposite is happening.
Since June, we’ve seen strong gains in home prices and sales volume. The housing market is being fueled by low interest rates. Freddie Mac just reported another all-time low with the 30-year fixed rate having dropped to 2.86%. Continue reading →