Current Market Information

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Found 6 blog entries about Current Market Information.

Home sales dropped again, but prices rose a bit in the Scottsdale real estate market during January. The number of homes sold was down 12% from December and down 21% from last January. This marks seven out of the last eight months of declining home sales in Scottsdale.  The average sale price increased 3% from December and is up 5% from January 2018. The 12 month moving average sale price is up 9% from a year ago,  now standing at $583,650.  The number of homes on the market is 2,710, 9% more than December, but 2% less than January 2018.  The days on market remains at 91, 21% less than last year, and the burn rate (homes pending/home sold) is at 4.08 months, now leaning toward a buyer's market.  There are currently 881 homes under contract, 15% less

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Homes sales fell again but prices rose in January in the Phoenix, AZ real estate market.  The number of homes declined by 19% versus December and down 10% year over year. The average sale price rose 2% from December, and was up 10% over January 2018. Sellers received about 98% of their list price during the month. The number of homes on the market rose 11% compared to December and up 16% year over year.  The 12 month moving average sale price, now at $299,813 (up 9% from the previous year), continues to edge up ever so slightly but is starting to level off.  The days on market is 69, up 10% from last year and well within the benchmark of a seller's market.  The "Burn Rate" (pending sales/active listings) ticked down to 3.18 months supply.  The price

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After the whole 2008/09 housing crash I swore to myself that I would alert people when I saw the signs of another impending housing market crash, or at least a decline.  Unfortunately by the time the media announces it as news the decline is usually in full swing.  And as the saying goes on Wall St. buy on the rumor, sell on the news. Best advice is to consult a Realtor. Below is a list of factors that I keep an eye on to determine whether our housing market is in for darker days:

 

1. Interest rate increases - Yes, this is obvious, but it usually spells the end of a housing boom. The Federal Reserve has two basic tenents: to gauge and monitor inflation and to gauge and monitor employment.  Typically when the economy reaches full employment

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Home sales ticked down again, while prices rose a bit in the Anthem Parkside real estate market during December. Sales decreased 5% from November and dropped 5% year over year as well.  The average sale price increased 8% versus November and was up 2% versus December 2017.  The average price per square foot decreased 1% from November, but was up 8% year over year for the Parkside. The average days on market fell 9% compared to November and was down 12% versus December 2017. The inventory of homes on the market is at a 2.60 month’s supply, still a seller's market. The 12 month moving average, $319,069 is up 6% from last year but is starting to wane as well, just barely eeking out an increase ($438) from November. The number of homes currently on the

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Home sales dropped again, but prices ticked up ever so slightly in the Scottsdale real estate market during December. The number of homes sold was down 4% from November and down 15% from last December. This marks six out of the last seven months of declining home sales in Scottsdale.  The average sale price increased .33% (that's 1/3 of 1 percent) from November but is up 5% from December 2017. The 12 month moving average sale price is up 9% from a year ago,  now standing at $581,585.  The number of homes on the market is 2,491, 3% more than November, but 3% less than December 2017.  The days on market remains at 92, same as last year, and the burn rate (homes pending/home sold) is at 5.41 months, now a strong buyer's market.  There are currently 565

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