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February 2018 | Market Update 85266 Scottsdale Real Estate Arizona

February 2018February 2018 - Local real estate conditions are changing and your Market Insider provides valuable, up-to-date information about the communities important to you. View critical information about what is happening now, so you can be a "Market Insider"!
Market Area: 85266 February 2018
Listing Price $1,035,880
Listing Price Trend + 0.02%
Sold Price $851,330
Sold Price Trend -0.11%
Just a fraction of what's happening... click now to view more local market conditions! VIEW MARKET INSIDER
Buying or selling a home involves many factors. Stay on top of current community trends by viewing these listing and sale prices, demographics, school performance, area comparisons, and more. Of course, you can always call or email for help understanding what this information really means for you.
Featured "Insider Tip"

Economic Forecast Hinges on Policy, Tax Reform February 2018

The economy could get a lift from tax reform, with homebuyers and homeowners likely having more income, but less in the way of write-offs, according to Fannie Mae's Economic and Strategic Research (ESR) Group's recently released Economic and Housing Outlook for January 2018. Analysts believe housing will again be marked by short supply this year. 

"The new tax laws are likely to motivate a mixed response in the housing market: Increased disposable household income should lead to greater housing demand, but changes to deductions essentially reduce the subsidy for homeownership," says Doug Duncan, chief economist at Fannie Mae. "On balance, we expect the housing market in 2018 to encounter many of the same challenges as last year, including inventory shortages, particularly in the middle and lower-end of the market, and affordability headwinds."

Analysts anticipate GDP will increase 2.7 percent, as well as a tumbling unemployment rate - if policymakers step up.

"The question for 2018 is less about the impacts of the tax cuts for consumers and corporations than about how the Fed manages the pace of monetary policy normalization amid a stimulative fiscal environment," Duncan says. "As we see it, the traditional view of a trade-off between employment and inflation lacks solid empirical support in recent decades, and aggressive monetary policy to ward off a potentially overheating economy may do more harm than good. Managing a 'soft landing' will be a difficult but critical task for policymakers in 2018."

Analysts also expect the Federal Reserve to hike the key interest rate, which can affect the cost of a loan, including mortgages, at least twice this year. The Fed raised the rate three times in 2017.

Fannie's forecast comes on the heels of another outlook released by Freddie Mac, which anticipates a boost in home prices, sales, and starts in 2018.
Learn more about successfully selling or buying a home and check out a whole library of tips and articles to help you!
As always, thank you for your time and feel free to get in touch if you have any questions. Yours truly, Jane and Jeff Daley

The article February 2018 Market Update Scottsdale Arizona is brought to you be the Luxury Valley Homes team. Learn more about us

Comment balloon 0 commentsJane & Jeff Daley, PhD • February 26 2018 05:21PM
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