Metro Phoenix Renters Paying Hundreds of Dollars in App Fees

By Rebekah L. Sanders | Arizona Republic Metro Phoenix’s housing shortage is forcing tenants in some cases to pay hundreds of dollars in application fees just to find a place to rent, not including move-in costs such as a security deposit. With apartment vacancies at a nearly 50-year low, some renters are applying to property …

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Mortgage Delinquencies Rise Nationwide, But Not in Phoenix

By Angela Gonzales | Phoenix Business Journal While mortgage delinquencies continue to rise nationwide, the rate is falling in metro Phoenix. Borrowers continue to move through the delinquency funnel, with October 2020’s serious delinquency rate reaching over three times that of October 2019 nationwide, according to CoreLogic Inc.’s latest Loan Performance Insights report. But in …

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Metro Phoenix Again Tops Nation in Single-Family Home Rent Growth

By Angela Gonzales | Phoenix Business Journal U.S. rent price growth has stabilized for the first time since the pandemic, according to a new CoreLogic Inc. report on single-family home rentals. Among the 20 metro areas CoreLogic tracks in its Single-Family Rent Index, metro Phoenix had the highest year-over-year increase in single-family rents in July …

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COVID-19 Spike Could Impact Phoenix Housing Sales

By Angela Gonzales | Phoenix Business Journal Home prices are expected to slump during the summer months nationwide, according to CoreLogic HPI, which reported a 4.8% increase in year-over-year home prices in May nationwide as demand continued to prop up home price growth. Nationwide, CoreLogic HPI Forecast predicts a month-over-month price decrease of 0.1% in …

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Unemployment, Credit Changes May Impact Valley Housing Market

By Angela Gonzales | Phoenix Business Journal As the Phoenix housing market begins to recover from the COVID-19 pandemic, another type of infection could hurt long-term demand. “We need to watch how the credit infection infects the housing market today,” Jim Belfiore, founder of Belfiore Real Estate Consulting in Phoenix, told homebuilders in a recent …

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