Why New Construction Might Be Perfect for Your Next Arizona Home!     

There’s something truly special about buying a brand-new home. When you choose new construction, you’re getting more than a house—you’re creating a space tailored just for you. Arizona is home to some of the best builders in the country, and a new home here offers advantages that can elevate your everyday living. Why Buy New?New construction homes come with unique benefits you won’t find in a pre-owned home. First, there’s the joy of customization! You’ll have the chance to select layouts, finishes, fixtures, and appliances to match your style and needs. Imagine designing a kitchen that’s perfect for family dinners or an office with just the right lighting. Modern Features, Big SavingsOne of the biggest perks of buying new is all the latest technology and energy-efficient features. Many new homes come equipped with smart home systems, upgraded HVAC units, and energy-efficient windows. These upgrades don’t just improve comfort; they also help save on utility bills, which is always a plus! Peace of Mind with WarrantiesNew builds often include warranties covering various elements of the property for years to come. Whether it’s the roof, plumbing, or appliances, having that extra protection means fewer worries and more time to enjoy your beautiful new space. Less Maintenance, More EnjoymentEverything from the roof to the wiring is brand new, which means fewer maintenance concerns. This peace of mind lets you focus on making memories instead of managing unexpected repairs! Arizona’s Top New Construction BuildersWe’re lucky to have top-tier builders right here in Arizona, known for quality, innovative designs, and eco-friendly features: Taylor Morrison Meritage Homes Lennar Ashton Woods Camelot Fulton and MORE! These builders are dedicated to creating homes that meet high standards of craftsmanship and comfort, helping you find a place you’ll love for years to come. If a fresh, custom space sounds like your dream, let’s explore new construction together and bring that vision to life! Keep in mind the agent in the sales office represents the seller, so be sure to take me with you!

National news and local views for the week ending Friday, October 18, 2024

National Real Estate News CPI came in a bit hot September “headline” CPI eased to +2.4% YoY (from +2.5% YoY in August), but “core” CPI ROSE to +3.3% YoY (from +3.2% YoY in August). Both figures were 0.1% above expectations. While this data release wasn't a disaster by any stretch, it didn't help things either - especially following the much stronger than expected BLS jobs figure out the prior week. [Source: BLS] Rates in the high sixes Average 30-yr mortgage rates were steady at around 6.60% this week, having jumped massively over the prior two weeks due to the combination of the stronger September jobs report and (slightly) hotter September CPI inflation figure. That said, it's important to remember that 1 year ago, rates peaked at just over 8%! [Source: Mortgage News Daily] Builders getting bullish The National Association of Homebuilders confidence index rose 2 points to 43. (A figure >50 signifies a bullish/expansionary new home sales environment.) That's the second-straight month of index improvement, and it's been driven by - you guessed it - lower mortgage rates over the past 4 months. [Source: NAHB] Local Market Trends- Here you can enhance your area’s housing market data with your own insights and commentary! Area Median Price Active Listings New Listings - 5 days Median Days on Market Mesa, AZ $499,999 0% 1252 0.3% 105 39 -0.2% Gilbert, AZ $639,000 0% 675 0.2% 62 42 -0.2% Chandler, AZ $595,000 0% 530 0% 53 35 -0.2% Queen Creek, AZ $699,995 0% 621 1% 33 63 -0.1% Local Market Trends (/) from Sep. to Oct. 2024.   Lorana Ellard Real Broker License #SA684219000  

National news and local views for the week ending Friday, October 11, 2024

National Real Estate News A sudden surge in jobs The US added 254,000 jobs in September, far above expectations and a big jump from the roughly 150,000 jobs added in each of the prior two months. The unemployment rate, meanwhile, dropped to 4.1% (from 4.2% in August). This boosted "soft landing" hopes but hit the bond market hard. [Source: Bureau of Labor Statistics] Mortgage rates jump The much stronger-than-expected September jobs figure had the market reevaluating future rate cut expectations. The average rate on 30-year, fixed-rate mortgages jumped to 6.62% on Thursday and is now nearly 50 basis points (half a percentage point) above where it was BEFORE the Fed cut rates. [Source: Mortgage News Daily] Buyer sentiment improves Every month, Fannie Mae surveys consumers about their views on the economy and the housing market. In September, optimism about lower rates helped FNMA's Home Purchase Sentiment Index rise 1.8 points to 73.9, the highest level since February 2022. We've been seeing a number of 'glimmers of hope' like this lately. Now if only rates can STAY down for long enough we could finally get a recovery in transaction volumes! Local Market Trends Here you can enhance your area’s housing market data with your own insights and commentary! Area Median Price Active Listings New Listings - 5 days Median Days on Market Mesa, AZ $507,490 0% 1252 0.3% 140 38 -0.2% Gilbert, AZ $639,900 0% 659 0.2% 67 43 -0.2% Chandler, AZ $594,900 0% 537 0.1% 72 35 -0.2% Queen Creek, AZ $700,000 0% 634 1% 33 64 -0.1% Local Market Trends (/) from Sep. to Oct. 2024. Lorana Ellard Real Broker License #SA684219000   Questions about these articles or the state of your local market? Get in touch! 623-400-6657azhomerealestate1@gmail.com ©ListReports 2024, all rights reserved. This information is from third-party sources and its accuracy cannot be guaranteed.