landsman news roundup

Sellers are increasingly adjusting to the current market conditions, as the share of homes with price reductions grew to 16.8%, up from 14.6% last February, according to the Realtor.com February Monthly Housing Report. Sellers increased their activity this February, as newly listed homes rose 4.2% above last year’s levels, marking the highest February activity since 2021. Metro Phoenix saw its year-over-year median home listing price drop 4.9%.

The latest Consumer Price Index report, issued earlier this month, delivered unwelcome news about inflation. According to the report, the uptick in inflation that has been occurring over the last few months accelerated in January, climbing 3% on an annual basis. This surprise uptick could significantly influence the Federal Reserve's stance when it convenes for its mid-March meeting, potentially delaying the interest rate cuts many analysts had predicted for early 2025.

A legal loophole in the Low-Income Housing Tax Credit program is allowing developers to remove rent restrictions from affordable housing, leading to rising rents and worsening the housing crisis.

Once a cornerstone of real estate transactions, the appraisal industry is now facing an existential crisis. A closer look reveals a troubling disparity between the compensation appraisers receive and the escalating demands placed upon them. This unsustainable imbalance is threatening the viability of the profession.

ArizonaRealEstate.com: Here you'll find statistics on residential listings in Arizona and surrounding communities, updated every day from the MLS, including the average price, average days on market, average price reduction, and more.