Getting SLOWER?

The spike in seller concessions may be due to how seller offers of buyer agent compensation are recorded.
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[@claytonelofgren]

It seems like people in that $850,000-$975,000 range have really been having a hard time selling. Especially if it’s in an area where you can’t do short term rentals and if the house has no pool

[@msingleton]

The housing reset continues! The train crash is slow, but the pricing pressure is definetly coming.

[@Rickhelps]

@@msingleton Keep in mind that there is also the possibility that QE returns to solve bigger issues.

[@CLRDJRCLRDJR]

Scottsdale still seems strong, at least in my neighborhood. Had two homes for sale and both just went pending.

[@Rickhelps]

@@CLRDJRCLRDJR It is doing well

[@2023Red]

Yep. Bonds moving after Friday NFP report. Now we have today’s Apple event and tomorrow’s debate event. Who knows, maybe a hurricane later this week? One thing is certain and that is heat persists. Real estate is a big question mark here in Phoenix area for me. I have trouble understanding why people hate inflation but love getting top dollar to sell their house. Then turn around and complain home buying is so expensive. Same with cars. And food. Pork and chicken contain similar nutritional values as beef yet people pay more for beef while complaining. It is a mystery. Enough rant for today. Later…

[@Rickhelps]

So the big question is are you going to upgrade your phone?

[@2023Red]

@@Rickhelps I have three iPhone 15 pro max phones now. Will I upgrade? Depends on new features and colors. It is a frivolous purchase I know. But approaching age 76, why not treat myself? I can’t take it with me. I suppose I could leave it to heirs who never call or even send a benign Christmas card. Or estate lawyer to reward their hard work to process paperwork by their underpaid paralegal. Or have a smile as ups pulls up with the iPhone. Maybe I will have a ribeye for lunch as I ponder yet another difficult decision. How about you?

[@Rickhelps]

@@2023Red Not sure. Need to see what it offers. They seem to concentrate on the cameras more than other options now.

[@Rickhelps]

@@2023Red I am impressed with the iwatch improvements and the earbud improvements

[@2023Red]

@@Rickhelps Am I doing an iPhone upgrade? I will probably not. My iPhone 15 pro max is enough. I liked the ear pod headphones. It has a market for deaf people. I like the health focus by Apple. The major iPhone appeal for me is size for the larger phone as I am old and have diabetic eyes. Their focus is term Apple Intelligence. AI is such a buzz word today. We spend a lot of time at the Mayo Hospital. I see every to include people well into retirement glued to their iPhones. I think entertainment. But many with productivity issues too. iPhones are not just for the younger folks. The Apple Event was well done and had glitter appeal. But I think I will spend my money on things I really care about. Ribeyes and long necks!

[@marciamakoviecki3295]

Isn't the increase in seller concessions at least partially because sellers are putting concessions in to pay buyer agents?

[@Rickhelps]

Yes I think so

[@garyo8546]

interest dropped a tick to entice people back into the market... with all the massive construction in the state soon they will have over built and construction will slow and stop... then like in 2008 those construction people and the other companies that support that industry will start laying off workers and the snowball will start...

[@Rickhelps]

Rates drop because of bond buying and selling. Not because of a gathering of bond traders wanting to entice buyers.

[@PastoreTeam]

Rental market?

[@Rickhelps]

There won't be much to report in the rental market until the completion of all the projects in the valley that are going on right now. Jobs are still growing enough to fill what we currently have. If we have a sudden glut of inventory and a job slowdown then things will change.