Real Estate
Holly’s Real Estate Headlines
By Holly Henbest, Realtor
W
hile in high school, I was on the newspaper staff and had my own column called Holly’s Headlines. So, for this month’s real estate column, I bring you Holly’s Real Estate Headlines. I have broken down the key must-know headlines by category. (Note: all information is current as of press time.) HOUSING PRICE APPRECIATION • The appreciation rate on home sales in Arizona peaked in May at over 39%. • The appreciation rate in Arizona is now below 30%. • The appreciation rate for the U.S. was 17.2% as of August 1. • The appreciation in Arizona is projected at over 10% for the next year. • Our median price of $399,900 is still $100,000 less than median home prices in San Francisco, Los Angeles, Seattle, Portland, and Denver. SUPPLY AND DEMAND • The Phoenix metro area ranked number one for housing shortage in July. • We are currently trending at less than a month of available inventory in Arizona. • Supply is growing and demand is steady. • We are still a long way away from a balanced market of supply and demand. POPULATION GROWTH • Arizona is now the fifth largest city in the U.S. per the 2020 census. • Phoenix grew 11.2% since 2010. RENTAL MARKET • Phoenix is ranked number one in the nation for the biggest rent increase with Phoenix apartment rental rates growing 21.6% since last year. INVESTORS • Investors buying single family homes in Arizona to rent have increased from 14% of sales to 18% of sales in the last few months. myhyperlocalnews.com
• Arizona is currently experiencing the highest level of investor buying since 2014.
HOME EQUITY • Arizona is ranked number one in the nation for home equity. • Mortgaged homes in Arizona considered to be equity rich rose from 16.3% in Quarter 1 of 2021 to 39.7% in Quarter 2 of 2021. CURRENT LOCAL STATISTICS Desert Ridge Data • 21 single family homes currently for sale • 23 single family homes under contract • 38 single family homes sold in the previous 30 days Tatum Highlands Data • Five single family homes currently for sale • 11 single family homes under contract • 12 single family homes sold in the previous 30 days Tatum Ranch Data • Four single family homes currently for sale • 10 single family homes under contract • 17 single family homes sold in the previous 30 days Do you have questions about buying or selling a home? Give The Henbest Team a call at 480-266-8785 or e-mail holly@ henbest.com. Holly has been a Desert Ridge resident since 2000 and has been a Realtor since 2006. She is the leader of The Henbest Team with Realty One Group. Holly is ranked in the top ½ of 1 percent of Realtors in Arizona and is a certified luxury marketing expert. She was also ranked #24 in 2019 by the Phoenix Business Journal and recognized by So Scottsdale! magazine as a Real Estate Superstar for 2019. NORTH TATUM TIMES • September 2021 • 21
