If you’ve been skipping over newly built homes in your search, you might be doing so based on outdated assumptions. Let’s clear up a few of the most common myths, so you don’t miss out on a solid opportunity.

Myth 1: New Homes Are More Expensive

It’s easy to assume a new build will cost more than an existing home, but that’s not necessarily true, especially right now.

Data from Census and the National Association of Realtors (NAR) shows the median price of a newly built home today is actually lower than a home that’s been lived in already (an existing home):

So, why’s this happening? As Heather Long, Chief Economist at Navy Federal Credit Union, explains:

“This largely reflects two trends: New homes are getting smaller on average, and builders are doing more price cuts.”

If you’ve ruled out new construction based on price alone, it’s time to take another look. Talk to y. ...

Is It Better To Buy Now or Wait for Lower Mortgage Rates? Here’s the Tradeoff


Mortgage rates are still a hot topic – and for good reason. After the most recent jobs report came out weaker than expected, the bond market reacted almost instantly. And, as a result, in early August mortgage rates dropped to their lowest point so far this year (6.55%).
While that may not sound like a big deal, pretty much every buyer has been waiting for rates to fall. And even a seemingly small drop like this reignites the hope we’re finally going to see rates trending down. But what’s realistic to expect?
According to the latest forecasts, rates aren’t expected to fall dramatically anytime soon. Most experts project they’ll stay somewhere in the mid-to-low 6% range through 2026 (see graph below):
In other words, no big changes are expected. But small shifts, like the one we just saw, are still likely. 
Each time there’s chang. ...

What Credit Score Do You Really Need To Buy a Home?


According to Fannie Mae, 90% of buyers don’t actually know what credit score lenders are looking for, or they overestimate the minimum needed.
Let that sink in. That means most homebuyers think they need better credit than they actually do – and maybe you’re one of them. And that could make you think buying a home is out of reach for you right now, even if that’s not necessarily true. So, let’s look at what the data really says about credit scores and homebuying.
There’s No One Magic Number
There’s no universal credit score you absolutely have to have when buying a home. And that means there’s more flexibility than most people realize. Check out this graph showing the median credit scores recent buyers had among different home loan types:
Here's what’s important to realize. The numbers vary, and there’s no one-size-fits-all thr? ...

What’s Really Happening in the Phoenix Real Estate Market?
(Based on Tina Tamboer’s July Cromford Market Update)
First, a quick note:
The Cromford Report is one of Arizona’s most trusted housing data sources. It tracks real-time market activity—faster and more locally than national outlets—so we can see what’s happening before it makes the news. It’s what top agents, lenders, and economists in the Valley rely on.
Here’s what the latest data tells us:
Signs of a Subtle Market Shift

Mortgage rates have stayed relatively flat since the end of 2022, but mortgage applications are rising, which means more buyers are starting to engage.

The Cromford Market Index (CMI)—our best early indicator of a shift—is finally starting to trend upward. This is a key sign that we may be near the bottom of the market cycle.

Supply is slowing, and demand is remaining steady, albeit ...