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Showing posts with label arizona. Show all posts
Showing posts with label arizona. Show all posts
Saturday, February 16, 2013
Confidence Index for February 2013
Sunday, March 4, 2012
Signs of upturn in Phoenix's long-suffering housing market
Paste in your browser:
http://www.usatoday.com/money/economy/housing/story/2012-02-24/phoenix-housing-market-rebounding/53276056/1#.T0zXDj1JSss.email
http://www.usatoday.com/money/economy/housing/story/2012-02-24/phoenix-housing-market-rebounding/53276056/1#.T0zXDj1JSss.email
Friday, March 2, 2012
Real estate 'misery' and the presidential race
DAILY REAL ESTATE NEWS
Produced by Inman News
March 2, 2012
Sponsored by Lowe's
Real estate 'misery' and the presidential race
Foreclosure-ridden states top Trulia's 'Housing Misery Index'
By Inman News
Inman News®
Share This
Despite the approach of "Super Tuesday" elections on March 6, it is unlikely that candidates in the Republican presidential primary race will focus much on housing until June, according to real estate search and marketing site Trulia.
That's because, of the four states hardest hit by the housing crisis, three -- Nevada, Florida and Arizona -- have already had their primaries. The fourth, California, has its primary June 5.
"If candidates want to talk about what voters want most, they should focus on housing issues where it's clearly a pain point for voters. This means that ... we probably won't hear much about housing from the presidential candidates again until the summer," said Jed Kolko, Trulia's chief economist, in a blog post.
In order to figure out which states are suffering the most from the housing downturn, Trulia developed a Housing Misery Index that adds together the percentage change in home prices from their peak through fourth-quarter 2011, from the Federal Housing Finance Agency (FHFA), and the percent of mortgages either severely delinquent (by 90 days or more) or in foreclosure as of fourth-quarter 2011, from CoreLogic.
Trulia Housing Misery Index: Top 10 'most miserable' states
State Housing Misery Index
Nevada 73
Florida 62
Arizona 55
California 54
Michigan 37
Idaho 35
Rhode Island 34
Georgia 34
Washington 33
Maryland 32
Source: Trulia
Produced by Inman News
March 2, 2012
Sponsored by Lowe's
Real estate 'misery' and the presidential race
Foreclosure-ridden states top Trulia's 'Housing Misery Index'
By Inman News
Inman News®
Share This
Despite the approach of "Super Tuesday" elections on March 6, it is unlikely that candidates in the Republican presidential primary race will focus much on housing until June, according to real estate search and marketing site Trulia.
That's because, of the four states hardest hit by the housing crisis, three -- Nevada, Florida and Arizona -- have already had their primaries. The fourth, California, has its primary June 5.
"If candidates want to talk about what voters want most, they should focus on housing issues where it's clearly a pain point for voters. This means that ... we probably won't hear much about housing from the presidential candidates again until the summer," said Jed Kolko, Trulia's chief economist, in a blog post.
In order to figure out which states are suffering the most from the housing downturn, Trulia developed a Housing Misery Index that adds together the percentage change in home prices from their peak through fourth-quarter 2011, from the Federal Housing Finance Agency (FHFA), and the percent of mortgages either severely delinquent (by 90 days or more) or in foreclosure as of fourth-quarter 2011, from CoreLogic.
Trulia Housing Misery Index: Top 10 'most miserable' states
State Housing Misery Index
Nevada 73
Florida 62
Arizona 55
California 54
Michigan 37
Idaho 35
Rhode Island 34
Georgia 34
Washington 33
Maryland 32
Source: Trulia
Monday, February 13, 2012
Phoenix Ranks 4th in Single Family Price up in 4th Qtr 2011
Prices in Phoenix-Mesa-Scottsdale were up by 4.49% in 4th quarter of 2011.
Details in the Lowes website at
http://lowes.inman.com/newsletter/2012/02/13/news/177435
Details in the Lowes website at
http://lowes.inman.com/newsletter/2012/02/13/news/177435
Thursday, January 19, 2012
Moving from/to in 2011
This chart shows people moving from state to state in 2011:
http://www.atlasvanlines.com/migration-patterns/
http://www.atlasvanlines.com/migration-patterns/
Thursday, September 15, 2011
My Regrets
All of the blog posted from May 10 through September 9 have disappeared, vanished, become lost. I am not sure I have offended, but it seems further effort may be a waste.
My Regrets,
Denis
My Regrets,
Denis
Homeowners Expect Prices to Fall
September 14, 2011 from Realty Times
Homeowners Expect Prices to Fall by Carla Hill
Has renewed concerns over the job market affected the way agents and homeowners feel about the market? HomeGain's nationwide third quarter 2011 home values survey found that forty-seven percent of surveyed real estate professionals nationwide expect home values to decrease over the next six months.
Additionally, an overwhelming majority of buyers feel that homes on the market are still overpriced, with 30 percent reporting they feel homes are overpriced by 10 to 20 percent.
Is this opportunism running rampant? Recent studies in affordability rates could lead us to believe so, as home values have plummeted across the nation and are already at generational highs.
Is the sentiment of overpriced homes a symptom of reduced consumer confidence in the market? Lynn Franco, Director of The Conference Board Consumer Research Center, reported late last month, "Consumer confidence deteriorated sharply in August, as consumers grew significantly more pessimistic about the short-term outlook. The index is now at its lowest level in more than two years. A contributing factor may have been the debt ceiling discussions since the decline in confidence was well underway before the S&P downgrade. Consumers' assessment of current conditions, on the other hand, posted only a modest decline as employment conditions continue to suppress confidence."
On top of these already dismal findings, foreclosures are still a large segment of most area markets. The largest percentage (32 percent) of those surveyed see 10 to 20 percent of the market made up of foreclosed properties.
“Homeowners have joined real estate professionals and now share their dour view on the direction of home prices. Last quarter only 30 percent of homeowners expected home prices to drop in the coming six months while 50 percent of real estate professionals expected price declines. In the current survey 45 percent of homeowners and 47 percent of real estate professionals expect home price declines in the next six months,” said Louis Cammarosano, General Manager of HomeGain.
Are you curious to know which states real estate agents and homeowners think will see price increases in the next six month? HomeGain supplies us with the list.
Arizona
Florida
Texas
California
Ohio
Tennessee
Colorado
Georgia
Virginia
Washington
On the flip side are the 10 states where agents and homeowners expect to see home price declines.
New Jersey
Pennsylvania
North Carolina
Georgia
Virginia
Illinois
Massachusetts
New York
California
Ohio
It's important to point out that several states made both lists. How can this be? It's just another clue that our market is volatile and unpredictable at this time. Too much of the housing market is tied to fluctuations in the jobs and stock market. Yet, real estate is extremely localized as well. You may have a boom market on one side of Ohio while another city across the state experiences declines.
In a down national economy, such as the one currently seen in the states, it's wise to keep an eye on national economic trends in stocks, jobs, and banking. It's also wise to take a hard look at your local economy. It may be the best future indicator of where housing will go in your community in the next six months.
Copyright © 2011 Realty Times. All Rights Reserved.
Homeowners Expect Prices to Fall by Carla Hill
Has renewed concerns over the job market affected the way agents and homeowners feel about the market? HomeGain's nationwide third quarter 2011 home values survey found that forty-seven percent of surveyed real estate professionals nationwide expect home values to decrease over the next six months.
Additionally, an overwhelming majority of buyers feel that homes on the market are still overpriced, with 30 percent reporting they feel homes are overpriced by 10 to 20 percent.
Is this opportunism running rampant? Recent studies in affordability rates could lead us to believe so, as home values have plummeted across the nation and are already at generational highs.
Is the sentiment of overpriced homes a symptom of reduced consumer confidence in the market? Lynn Franco, Director of The Conference Board Consumer Research Center, reported late last month, "Consumer confidence deteriorated sharply in August, as consumers grew significantly more pessimistic about the short-term outlook. The index is now at its lowest level in more than two years. A contributing factor may have been the debt ceiling discussions since the decline in confidence was well underway before the S&P downgrade. Consumers' assessment of current conditions, on the other hand, posted only a modest decline as employment conditions continue to suppress confidence."
On top of these already dismal findings, foreclosures are still a large segment of most area markets. The largest percentage (32 percent) of those surveyed see 10 to 20 percent of the market made up of foreclosed properties.
“Homeowners have joined real estate professionals and now share their dour view on the direction of home prices. Last quarter only 30 percent of homeowners expected home prices to drop in the coming six months while 50 percent of real estate professionals expected price declines. In the current survey 45 percent of homeowners and 47 percent of real estate professionals expect home price declines in the next six months,” said Louis Cammarosano, General Manager of HomeGain.
Are you curious to know which states real estate agents and homeowners think will see price increases in the next six month? HomeGain supplies us with the list.
Arizona
Florida
Texas
California
Ohio
Tennessee
Colorado
Georgia
Virginia
Washington
On the flip side are the 10 states where agents and homeowners expect to see home price declines.
New Jersey
Pennsylvania
North Carolina
Georgia
Virginia
Illinois
Massachusetts
New York
California
Ohio
It's important to point out that several states made both lists. How can this be? It's just another clue that our market is volatile and unpredictable at this time. Too much of the housing market is tied to fluctuations in the jobs and stock market. Yet, real estate is extremely localized as well. You may have a boom market on one side of Ohio while another city across the state experiences declines.
In a down national economy, such as the one currently seen in the states, it's wise to keep an eye on national economic trends in stocks, jobs, and banking. It's also wise to take a hard look at your local economy. It may be the best future indicator of where housing will go in your community in the next six months.
Copyright © 2011 Realty Times. All Rights Reserved.
Monday, February 15, 2010
Real Estate Outlook: National PMI Index
Realty Times of February 15, 2010
Real Estate Outlook: National PMI Index by Kenneth R. Harney
One of the most accurate forecasters of housing value movements has just signaled something potentially important: For the first time in a year, according to the national PMI index, “overall risk has decreased” in the 384 metropolitan markets covered by the survey.
The PMI risk index is produced quarterly by private mortgage insurance giant, PMI Group. It examines local employment, household income, economic growth, demographic changes and other factors to predict where home values are headed in these market areas.
PMI's risk index was among the earliest warning bells about the housing crash, so its quarterly findings are followed closely by mortgage analysts. According to the latest index released last week, home values are increasing in dozens of major metropolitan markets, causing the average risk rating for the U.S. to drop by 2.6 percent.
That's not huge, but it's a directional signal. The index found risk levels elevated in the so-called “sand states” -- California, Florida, Nevada and Arizona. It also documented a slight worsening of affordability conditions in 81 percent of metropolitan markets -- mainly the result of the uptick in home prices and slightly higher average mortgage interest rates late last year.
Another key market barometer was released last week with at least mildly encouraging numbers: The Zillow index of home owner negative equity found that the national average rate dropped to 21.4 percent in the last quarter of 2009, down from 23 percent in the second quarter.
Also the Federal Reserve's quarterly study measuring the nation's finances - the so-called “flow of funds” report, found that after nearly three years of declines, Americans are building positive equity in their homes again.
Between the first quarter of last year and the third quarter, according to the Fed, homeowner equity increased by almost $1 trillion. That was caused primarily by a combination of rising home values and principal paydowns on mortgages.
Meanwhile, home builders are also reporting an easing of their multi-year tale of woe: Several major publicly-traded national builders, including D R Horton and Beazer, announced last week that they are seeing higher numbers of orders along with reduced cancellation rates on contracts.
Horton said in its most recent quarter, orders for new homes were 45 percent above year-earlier levels, and the cancellation rate dropped from 38 percent to 26 percent.
Mortgage rates continue to be helpful as well: Thirty year fixed rates dropped to 4.9 percent last week, according to the Mortgage Bankers Association. Fifteen year rates remained flat at 4.3 percent.
Copyright © 2010 Realty Times. All Rights Reserved.
Real Estate Outlook: National PMI Index by Kenneth R. Harney
One of the most accurate forecasters of housing value movements has just signaled something potentially important: For the first time in a year, according to the national PMI index, “overall risk has decreased” in the 384 metropolitan markets covered by the survey.
The PMI risk index is produced quarterly by private mortgage insurance giant, PMI Group. It examines local employment, household income, economic growth, demographic changes and other factors to predict where home values are headed in these market areas.
PMI's risk index was among the earliest warning bells about the housing crash, so its quarterly findings are followed closely by mortgage analysts. According to the latest index released last week, home values are increasing in dozens of major metropolitan markets, causing the average risk rating for the U.S. to drop by 2.6 percent.
That's not huge, but it's a directional signal. The index found risk levels elevated in the so-called “sand states” -- California, Florida, Nevada and Arizona. It also documented a slight worsening of affordability conditions in 81 percent of metropolitan markets -- mainly the result of the uptick in home prices and slightly higher average mortgage interest rates late last year.
Another key market barometer was released last week with at least mildly encouraging numbers: The Zillow index of home owner negative equity found that the national average rate dropped to 21.4 percent in the last quarter of 2009, down from 23 percent in the second quarter.
Also the Federal Reserve's quarterly study measuring the nation's finances - the so-called “flow of funds” report, found that after nearly three years of declines, Americans are building positive equity in their homes again.
Between the first quarter of last year and the third quarter, according to the Fed, homeowner equity increased by almost $1 trillion. That was caused primarily by a combination of rising home values and principal paydowns on mortgages.
Meanwhile, home builders are also reporting an easing of their multi-year tale of woe: Several major publicly-traded national builders, including D R Horton and Beazer, announced last week that they are seeing higher numbers of orders along with reduced cancellation rates on contracts.
Horton said in its most recent quarter, orders for new homes were 45 percent above year-earlier levels, and the cancellation rate dropped from 38 percent to 26 percent.
Mortgage rates continue to be helpful as well: Thirty year fixed rates dropped to 4.9 percent last week, according to the Mortgage Bankers Association. Fifteen year rates remained flat at 4.3 percent.
Copyright © 2010 Realty Times. All Rights Reserved.
Monday, June 8, 2009
Arizona Home Market
I spoke with 3 of the large Title Companies this last week All told basically the same story -
May closing were 3 times the April closings!
Urban legend or is it happening?
May closing were 3 times the April closings!
Urban legend or is it happening?
Friday, October 17, 2008
Buyers Go West for Good Deals
From Realty Times of October 17, 2008
Hot Market: Buyers Go West for Good Deals by M. Anthony Carr
You've heard the news that pending sales are up across the country over 7 percent from July to August. While that's the broad brush news, when looking at the details, one sees just how many states in the West are experiencing a huge surge in the number of sales being registered on real estate boards across the region.
Following the trends over the last two quarters, it should be no surprise that the real estate market across the country is slowly beginning to show signs of life. The National Association of Realtors, keeper of national realty sales data, has been releasing the numbers all year of state after state experiencing very healthy sales increases from the 1st quarter to the 2nd quarter.
Leading the way is Idaho, with a 51 percent jump between the two quarters. California was up 25.8 percent followed closely by Nevada at 25 percent. The fourth strongest statewide market was Arizona, up by 20.5 percent.
The only two states to show a quarter over quarter increase from 2nd quarter 2007 to 2nd quarter 2008 was California, up 3.7% and Nevada surging forward at 18 percent.
When news hit about this latest sales increase of 7.4 percent, hidden, again, in the fine print was the fact that sales year over year in the west had jumped a whopping 37 percent. The challenge facing markets now, of course, is the current credit crisis, which will determine if the trends of upward bound sales will continue.
--------------------------------------------------------------------------------
Copyright © 2008 Realty Times. All Rights Reserved.
Biggest concern now, is it getting too crowded out here? We are projected to double in population in only a decade or two from now!
.
Hot Market: Buyers Go West for Good Deals by M. Anthony Carr
You've heard the news that pending sales are up across the country over 7 percent from July to August. While that's the broad brush news, when looking at the details, one sees just how many states in the West are experiencing a huge surge in the number of sales being registered on real estate boards across the region.
Following the trends over the last two quarters, it should be no surprise that the real estate market across the country is slowly beginning to show signs of life. The National Association of Realtors, keeper of national realty sales data, has been releasing the numbers all year of state after state experiencing very healthy sales increases from the 1st quarter to the 2nd quarter.
Leading the way is Idaho, with a 51 percent jump between the two quarters. California was up 25.8 percent followed closely by Nevada at 25 percent. The fourth strongest statewide market was Arizona, up by 20.5 percent.
The only two states to show a quarter over quarter increase from 2nd quarter 2007 to 2nd quarter 2008 was California, up 3.7% and Nevada surging forward at 18 percent.
When news hit about this latest sales increase of 7.4 percent, hidden, again, in the fine print was the fact that sales year over year in the west had jumped a whopping 37 percent. The challenge facing markets now, of course, is the current credit crisis, which will determine if the trends of upward bound sales will continue.
--------------------------------------------------------------------------------
Copyright © 2008 Realty Times. All Rights Reserved.
Biggest concern now, is it getting too crowded out here? We are projected to double in population in only a decade or two from now!
.
Friday, October 10, 2008
Market Conditions
Market Conditions by Realty Times Staff October 10, 2008
The latest report from the National Association of Realtors indicates that pending home sales surged in August -- jumping 7.4 percent. This level is even higher than the August 2007 stats.
Lawrence Yun, NAR chief economist, said home buyers were responding to improved affordability. "What we're seeing is the momentum of people taking advantage of low home prices, with pending home sales up strongly in California, Nevada, Arizona, Florida, Rhode Island and the Washington, D.C., region," he said. "It's unclear how much contract activity may be impacted by the credit disruptions on Wall Street, but we're hopeful most of the increase will translate into closed existing-home sales."
Regionally, the West saw the biggest jump for the month of August -- surging 18.4 percent.
The only region that was still below August 2007 levels is the South.
Expert predict that home prices will finally begin to rise again -- by about 2 to 3 percent next year. This comes with prediction about 30 year fixed rate mortgages staying in the 6 percent range throughout 2009.
Copyright © 2008 Realty Times. All Rights Reserved.
==============
I would add that data on my website shows that September was strong as well.
.
The latest report from the National Association of Realtors indicates that pending home sales surged in August -- jumping 7.4 percent. This level is even higher than the August 2007 stats.
Lawrence Yun, NAR chief economist, said home buyers were responding to improved affordability. "What we're seeing is the momentum of people taking advantage of low home prices, with pending home sales up strongly in California, Nevada, Arizona, Florida, Rhode Island and the Washington, D.C., region," he said. "It's unclear how much contract activity may be impacted by the credit disruptions on Wall Street, but we're hopeful most of the increase will translate into closed existing-home sales."
Regionally, the West saw the biggest jump for the month of August -- surging 18.4 percent.
The only region that was still below August 2007 levels is the South.
Expert predict that home prices will finally begin to rise again -- by about 2 to 3 percent next year. This comes with prediction about 30 year fixed rate mortgages staying in the 6 percent range throughout 2009.
Copyright © 2008 Realty Times. All Rights Reserved.
==============
I would add that data on my website shows that September was strong as well.
.
Sunday, July 27, 2008
PHOENIX & EAST VALLEY SALES & LISTINGS
The latest report for the Southeast Phoenix Valley and Greater Phoenix markets provided courtesy of First American Title.
Please use the BACK arrow to return to this Blog after viewing the data:
MLS INVENTORY - 07/23 - SOUTHEAST VALLEY
Departing from the previous format, during the last 2 weeks Listings up 81, Pending up 53 and Sales down 99. With Active and Pending at 21079 total and divided by sales of gives us 9.8 months of inventory. Based on Active only, that would be 8.3 months.
Again, under a new format, Total Phoenix Area MLS Actives, during the last 2 weeks, up by 308, Pending by 173 and Sold down by 79. This is 11 months inventory, but based on Sales only it is 9.4 months.
MLS INVENTORY - 07/23 - TOTAL VALLEY
Prices continue to decline, driven mostly by sale of REO (Bank owned) properties and Short Sales.
As stated before, it is predicted that the Valley will double in population in 20 years. Good time to buy - I think so!
On a short term time line, the President will likely sign the Mortgage Relief package from Congress, which should help the economy begin to turn upward. Not a total solution, but hopefully will help folks to become a little more positive about tomorrow.
Please use the BACK arrow to return to this Blog after viewing the data:
Departing from the previous format, during the last 2 weeks Listings up 81, Pending up 53 and Sales down 99. With Active and Pending at 21079 total and divided by sales of gives us 9.8 months of inventory. Based on Active only, that would be 8.3 months.
Again, under a new format, Total Phoenix Area MLS Actives, during the last 2 weeks, up by 308, Pending by 173 and Sold down by 79. This is 11 months inventory, but based on Sales only it is 9.4 months.
Prices continue to decline, driven mostly by sale of REO (Bank owned) properties and Short Sales.
As stated before, it is predicted that the Valley will double in population in 20 years. Good time to buy - I think so!
On a short term time line, the President will likely sign the Mortgage Relief package from Congress, which should help the economy begin to turn upward. Not a total solution, but hopefully will help folks to become a little more positive about tomorrow.
Thursday, July 17, 2008
PHOENIX & EAST VALLEY SALES & LISTINGS
The latest "last 30 day" report for the Southeast Phoenix Valley and Greater Phoenix markets provided courtesy of First American Title.
Please use the BACK arrow to return to this Blog after viewing the data:
MLS INVENTORY - 07/08 - SOUTHEAST VALLEY
The number of listings (active and pending) in the SOUTHEAST VALLEY went down by 733 from 2 weeks ago, new contracts in escrow were 466 of those. Sales were up by 52 (2.4%). Summer months are not when a lot of folks are out looking, most make there move earlier to close before schools reopen.
With the total listings at 20964 and SALES at 2252, we now have 9.3 months of inventory in the pipeline for the South East Valley.
Phoenix data is compared to a report of 5 weeks ago.
Results for the total Phoenix MLS area showed the listings decreased by 470 to 60926, while contracts and sales both increased (by 54 and 34 respectively.
We now have 10.7 months of inventory in the Phoenix MLS pipeline.
MLS INVENTORY - 07/08 - TOTAL VALLEY
Prices continue to decline, driven mostly by sale of REPO (Bank owned) properties and Short Sales. Where it will end is anybody's guess, but it is predicted that the Valley will double in population in 20 years. Eventually, the market will begin to turn - we are the nations leader in employment increases which will begin to attract new folks from areas not so fortunate.
Please use the BACK arrow to return to this Blog after viewing the data:
The number of listings (active and pending) in the SOUTHEAST VALLEY went down by 733 from 2 weeks ago, new contracts in escrow were 466 of those. Sales were up by 52 (2.4%). Summer months are not when a lot of folks are out looking, most make there move earlier to close before schools reopen.
With the total listings at 20964 and SALES at 2252, we now have 9.3 months of inventory in the pipeline for the South East Valley.
Phoenix data is compared to a report of 5 weeks ago.
Results for the total Phoenix MLS area showed the listings decreased by 470 to 60926, while contracts and sales both increased (by 54 and 34 respectively.
We now have 10.7 months of inventory in the Phoenix MLS pipeline.
Prices continue to decline, driven mostly by sale of REPO (Bank owned) properties and Short Sales. Where it will end is anybody's guess, but it is predicted that the Valley will double in population in 20 years. Eventually, the market will begin to turn - we are the nations leader in employment increases which will begin to attract new folks from areas not so fortunate.
Thursday, July 10, 2008
MOLD AND RADON
A recent edition of Realty Times includes an excellent response to questions relating to Mold and Radon. The author of "Ask Realty Times", Peter G. Miller, has given us a clear and concise guideline as it relates to these subjects:
MOLD AND RADON
Be sure to click on and read The Environmental Protection Agency and The New York Times articles referred to by Mr. Miller in his article.
You may also wish to pursue the matter in more depth by obtaining a copy of Leonard Cole's book, Element of Risk, The Politics of Radon.
Our thanks to Mr. Miller for some long overdue guidance.
.
Be sure to click on and read The Environmental Protection Agency and The New York Times articles referred to by Mr. Miller in his article.
You may also wish to pursue the matter in more depth by obtaining a copy of Leonard Cole's book, Element of Risk, The Politics of Radon.
Our thanks to Mr. Miller for some long overdue guidance.
.
Monday, July 7, 2008
City of Phoenix Foreclosure Assistance
A new resource for those facing foreclosure:
New City of Phoenix Website - Foreclosure Help
The City of Phoenix is working actively to address the challenges posed by the foreclosure crisis. Their Web page features an array of resources to help you deal with a foreclosure situation whether you are a homeowner, a concerned resident or a prospective homebuyer.
The City of Phoenix is working actively to address the challenges posed by the foreclosure crisis. Their Web page features an array of resources to help you deal with a foreclosure situation whether you are a homeowner, a concerned resident or a prospective homebuyer.
Many Metros to See No Job Growth
An article from Realty Times:
No Job Growth as Mortgage Crisis Worsens
And if you don't read the article, you will miss this nugget:
"Peak-to-peak employment gains (the difference between the current job level peak and the employment peak prior to the 2001 recession) were led by Phoenix at 307,100 jobs; Houston at 298,300; Washington at 289,400; Riverside at 233,800; and Miami at 220,600."
Hey, we must be doing something right!
And if you don't read the article, you will miss this nugget:
"Peak-to-peak employment gains (the difference between the current job level peak and the employment peak prior to the 2001 recession) were led by Phoenix at 307,100 jobs; Houston at 298,300; Washington at 289,400; Riverside at 233,800; and Miami at 220,600."
Hey, we must be doing something right!
Tuesday, July 1, 2008
PHOENIX & EAST VALLEY SALES & LISTINGS
The latest "last 30 day" report for the Southeast Phoenix Valley and Greater Phoenix markets provided courtesy of First American Title.
Please use the BACK arrow to return to this Blog after viewing the data:
MLS INVENTORY - 06/25 - SOUTHEAST VALLEY
The number of listings in the SOUTHEAST VALLEY went down by only 20 from 3 weeks ago, new contracts in escrow up by 183 but sales were down by 83 (3.6%).
With the ACTIVE listings at 18174 and SALES at 2200, we now have 8.72 months of inventory in the pipeline for the South East Valley.
In the past week I have noted increased activity in both my own office and in the title companies I have visited. Is it a trend in the making or just a blip on the radar screen. We should know more by the next report from 1st American Title.
.
I will report of Greater Phoenix in the next report.
Please use the BACK arrow to return to this Blog after viewing the data:
The number of listings in the SOUTHEAST VALLEY went down by only 20 from 3 weeks ago, new contracts in escrow up by 183 but sales were down by 83 (3.6%).
With the ACTIVE listings at 18174 and SALES at 2200, we now have 8.72 months of inventory in the pipeline for the South East Valley.
In the past week I have noted increased activity in both my own office and in the title companies I have visited. Is it a trend in the making or just a blip on the radar screen. We should know more by the next report from 1st American Title.
.
I will report of Greater Phoenix in the next report.
Sunday, June 15, 2008
PHOENIX & EAST VALLEY SALES & LISTINGS
The latest "last 30 day" report for the Southeast Phoenix Valley market provided courtesy of First American Title.
Please use the BACK arrow to return to this Blog after viewing the data:
MLS INVENTORY - 06/04 - SOUTHEAST VALLEY
The number of listings in the SOUTHEAST VALLEY went down by 518 from 1 week ago, new contracts in escrow decreased by 155 but sales were up by 121 (5.3%).
With the ACTIVE listings at 18194 and SALES at 2283, we now have 7.96 months of inventory in the pipeline for the South East Valley.
Positive results for the total Phoenix MLS area showed the listings decreased by 1246 to 52778, and while new contracts in escrow did decrease by 322, sales increased by 296. We now have 9.3 months of inventory in the Phoenix MLS pipeline.
MLS INVENTORY - 06.04 - TOTAL VALLEY
It is my growing impression from recent reports that most of the sales in our current market are Bank Owned and Short Sale properties. These sales are frequently at much lower prices than the prevailing MLS listing resales. Appraisers will take these lower sales into account when valuing your home so don't be counting on selling at higher prices than the comparables including repos and Short Sales if you list your home. That is not good news for those in distress but Short Sales may be a way to avoid foreclosure. Not easy, but better that a 3 to 4 year delay in your ability to buy another home in the future.
.
Please use the BACK arrow to return to this Blog after viewing the data:
The number of listings in the SOUTHEAST VALLEY went down by 518 from 1 week ago, new contracts in escrow decreased by 155 but sales were up by 121 (5.3%).
With the ACTIVE listings at 18194 and SALES at 2283, we now have 7.96 months of inventory in the pipeline for the South East Valley.
Positive results for the total Phoenix MLS area showed the listings decreased by 1246 to 52778, and while new contracts in escrow did decrease by 322, sales increased by 296. We now have 9.3 months of inventory in the Phoenix MLS pipeline.
It is my growing impression from recent reports that most of the sales in our current market are Bank Owned and Short Sale properties. These sales are frequently at much lower prices than the prevailing MLS listing resales. Appraisers will take these lower sales into account when valuing your home so don't be counting on selling at higher prices than the comparables including repos and Short Sales if you list your home. That is not good news for those in distress but Short Sales may be a way to avoid foreclosure. Not easy, but better that a 3 to 4 year delay in your ability to buy another home in the future.
.
Thursday, May 29, 2008
PHOENIX & EAST VALLEY SALES & LISTINGS
The latest "last 30 day" report for the Southeast Phoenix Valley market provided courtesy of First American Title.
Please use the BACK arrow to return to this Blog after viewing the data:
MLS INVENTORY - 05/28 - SOUTHEAST VALLEY
The number of listings in the SOUTHEAST VALLEY decreased by 40 from 2 weeks ago, new contracts in escrow decreased by 55 but sales were up by 180 (8.9%). Pretty positive gain!
With the ACTIVE listings at 18845 and SALES & PENDING at 5689, we now have 8.7 months of inventory in the pipeline for the South East Valley.
Positive results for the total Phoenix MLS area showed the listings decreased by 95 to 54220, new contracts in escrow were up by 26, and sales completed were up by 446. We now have 10.1 months of inventory in the Phoenix MLS pipeline.
MLS INVENTORY - 05/28 - TOTAL VALLEY
Keep your eye on the market, we may be stabilizing.
.
Please use the BACK arrow to return to this Blog after viewing the data:
The number of listings in the SOUTHEAST VALLEY decreased by 40 from 2 weeks ago, new contracts in escrow decreased by 55 but sales were up by 180 (8.9%). Pretty positive gain!
With the ACTIVE listings at 18845 and SALES & PENDING at 5689, we now have 8.7 months of inventory in the pipeline for the South East Valley.
Positive results for the total Phoenix MLS area showed the listings decreased by 95 to 54220, new contracts in escrow were up by 26, and sales completed were up by 446. We now have 10.1 months of inventory in the Phoenix MLS pipeline.
Keep your eye on the market, we may be stabilizing.
.
Thursday, May 22, 2008
Watch the Midyear Housing Market Update Video from the National Association of Realtors
The National Association of Realtors® (NAR) has concluded its mid-year legislative meetings.
One of the highlights of the meeting was a presentation by the NAR Chief Economist.
2008 NAR President-Elect Charles McMillan and Chief Economist Lawrence Yun provided Midyear Legislative Meetings and Trade Expo attendees with news on the housing market and when we can expect a recovery.
Click here to watch the video.
A positive message can brighten the future for all of us.
The video is Copyright NATIONAL ASSOCIATION OF REALTORS®
Headquarters: 430 North Michigan Avenue, Chicago, IL. 60611-4087
DC Office: 500 New Jersey Avenue, NW, Washington, DC 20001-2020
1-800-874-6500
.
One of the highlights of the meeting was a presentation by the NAR Chief Economist.
2008 NAR President-Elect Charles McMillan and Chief Economist Lawrence Yun provided Midyear Legislative Meetings and Trade Expo attendees with news on the housing market and when we can expect a recovery.
A positive message can brighten the future for all of us.
The video is Copyright NATIONAL ASSOCIATION OF REALTORS®
Headquarters: 430 North Michigan Avenue, Chicago, IL. 60611-4087
DC Office: 500 New Jersey Avenue, NW, Washington, DC 20001-2020
1-800-874-6500
.
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