Items Tagged with 'Phoenix'

ARTICLES

  • Southwest sees fastest single-family rent increase

    Phoenix was the top city for rent growth
    Last month, we reported that Phoenix led the nation in multifamily rent growth. Now, according to a recent report from CoreLogic, single-family homes are following suit as rent prices are increasing the fastest in the Southwest. Phoenix had the highest year-over-year rent growth for the seventh consecutive month this June, with an increase of 7.1%.
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  • Phoenix leads nation in multifamily rent growth

    As employment rates surge, so do rent prices
    As of May, rents in Arizona’s capitol rose 6.8% in the past 12 months, a study by Yardi showed. That rate is almost three times the U.S. average, while Phoenix’s employment growth rate in the past year – 3.1% – was nearly double the national rate. 
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  • Opendoor and Redfin join forces to begin buying houses in Phoenix and Atlanta

    Opendoor will being buying houses via Redfin’s platform
    In what may seem like a surprising partnership between two would-be competitors in the burgeoning iBuyer market, Opendoor and Redfin are joining forces to buy homes in Phoenix and Atlanta. The companies announced this week that homeowners in those two cities will now be able to request a direct offer for their home from Opendoor through Redfin’s website and mobile apps.
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  • Opendoor lays off 50, asks hundreds to relocate to Phoenix

    Makes plans to beef up Arizona headquarters
    It’s been a banner year for Opendoor, as the digital real estate disrupter continued to rake in serious investor cash, earning it a valuation of $3.8 billion. But, apparently, with all that cash comes growth, and that often leads to change. Opendoor laid off 50 of its 1,300 employees last month, and it’s asked as many as 300 working in offices around the country to relocate to its Phoenix headquarters.
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  • WSJ: Phoenix is "petri dish" for America’s iBuying experiment

    Arizona's capital is proving ground for computerized flipping
    High-tech flippers such as Zillow and Opendoor are using algorithms to reshape the housing market, and Phoenix is the "proving ground," according to a Wall Street Journal story. The advent of iBuyers is just the latest challenge agents face in the Phoenix area, said Sam Miller, president-elect of the 10,000-member Phoenix Association of Realtors.
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  • Sale-leaseback company Sparrow launches in Phoenix

    Offers easy equity access to Phoenix homeowners
    The sale-leaseback category has picked up steam as of late, with several new players emerging with a promise to help homeowners access their equity without the need to move. Now, a new company called Sparrow has emerged to help Phoenix-area homeowners do just that.
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  • Zillow planning expansion of its home buying business in Southwest

    Establishes "Southwest Hub" for Zillow Offers in Phoenix
    It's been just over a year since Zillow expanded its business from simply facilitating the home sale to actually buying houses itself. Zillow has big plans for its home buying business, recently revealing that its current goal is to be able to buy 5,000 homes per month within as little as three years. To get there, Zillow will have to fortify and expand its home buying operations, and the online real estate giant took a step in that direction.
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  • Direct homebuyer Opendoor getting into mortgage business

    Piloting mortgage lending program in Phoenix
    Late last year, Opendoor, an online marketplace that buys homes directly from homeowners, announced that it raised $210 million to fund the company’s expansion beyond the two markets where it initially launched - Phoenix and Dallas-Fort Worth. At the time, the company said that it planned to expand to 10 new markets this year. As it turns out, that’s not the only way that Opendoor plans to expand; the company is also getting into the mortgage business.
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