Retire AZ Style News

RE/MAX National Housing Report for December 2018

December’s declining home sales and growing inventory solidified 2018 as the year the red-hot seller’s market moved toward a balanced market. Price growth also moderated, though December was the 33rd consecutive month of year-over-year increases in home prices, according to the RE/MAX National Housing Report, which includes fifty-three metro areas.

“December’s inventory gain, continuing the three-month growth trend, is welcome news,” said RE/MAX CEO Adam Contos. “The market remains choppy and there’s still a long way to go, but these gains represent steps toward a balanced market, which in the long run is healthy for both buyers and sellers.”

Most telling was December’s 4.6 percent growth in inventory, which was also a report record. December’s year-over-year inventory increase marked the third consecutive month of growth – a trend reversing a decade-long streak of year-over-year inventory declines.

While fifty-four Days on Market was a record low for December sold listings, the 4.1 Months Supply of Inventory was higher than December 2017’s 3.7 months and ahead of November 2018’s 3.9 months’ supply.

Home buyers paid record amounts throughout 2018 as prices grew year-over-year in every month last year, led by June’s Median Sold Price of $258,500 – an all-time report high. Even so, December’s year-over-year increase of 2.1% was 2018’s smallest, and far lower than the 8.1 percent price growth from December 2016 to December 2017.

“Home sales have cooled, especially during the second half of 2018, but that was inevitable given the strong seller’s market that has persisted for nearly a decade,” Contos said. “We believe sales activity can pick back up if the pace of price escalation continues to moderate, interest rates tick further downward, and wage growth continues.”

Click here to download your copy of the RE/MAX National Housing Report for December 2018. Are you considering a retirement home in Arizona? Or want to upgrade your current retirement home? Please contact me today for a full market analysis. I can help you successfully navigate any market condition!

 

Your Arizona Retirement Expert,

 

Sharon Mason - Associate Broker
RE/MAX Professionals
623-810-9988

www.RetireArizonaStyle.com 

Follow me on Facebook or Twitter!

Posted by Sharon Mason on February 4th, 2019 12:15 PM
August 2017 RE/MAX National Housing Report 

While July home sales decreased slightly, homes sold at a faster rate than any month in nearly a decade, according to the August RE/MAX National Housing Report that analyzes housing data in fifty-four metro areas. July home sales declined 0.8 percent year-over-year, and the Median Sales Price of $239,950 – while slightly lower than June’s – was 7.4 percent higher year-over-year. Homes sold quickly in July, with an average forty-five Days on Market, a record low for the report.

Other notable numbers from the August 2017 RE/MAX National Housing Report include:

• Sales increased in nineteen metro areas even as home sales declined 0.8 percent compared to July 2016.
• The Median Sales Price of $239,950 was the highest for any July in the nine-year history of the report.
• Inventory dropped 14.1 percent year-over-year, with forty-six metro areas seeing fewer homes for sale or remaining unchanged. Year-over-year, inventory has declined every month since November 2008.
• Months Supply of Inventory hovered at 3.1 months, a new July low in the report.

“After a jump in home sales in May and June, it’s not unusual to see a dip in sales in July,” said Adam Contos, RE/MAX Co-CEO. “This summertime slowdown is a national trend that we sometimes see this time of year, even though this month’s decrease was razor thin. Low inventory continues to constrain the market. Successful buyers will have to be prepped and ready to act fast to purchase listings that, on average, are selling in record time.”

Want to know more about the current real estate market? Click here to download your copy of the August 2017 RE/MAX National Housing Report.

If you are looking to sell your Arizona home or are ready to buy a home in an active Arizona retirement community, please contact Sharon Mason today.

Your Arizona Retirement Expert,
Sharon Mason,
Associate Broker
RE/MAX Professionals
623-810-9988
www.RetireArizonaStyle.com
Join Sharon on Facebook or Twitter!
Posted by Sharon Mason on August 27th, 2017 3:54 PM

National Housing Report for November 2016 

Last month saw the second-most sales – and the smallest inventory – of any October in the 9-year history of the RE/MAX National Housing Report. Despite a slight decrease in the number of transactions, this October is the second best in the history of the report. The markets with the largest increase in sales include Phoenix, AZ +12.2%, Seattle, WA +7.7%, Nashville, TN +6.9%, Milwaukee, WI +6.2%, Boise, ID +5.8% and Raleigh & Durham, NC, +4.9%.

“Although October sales weren’t quite as robust as what we've tracked so far in 2016, it's only the second month this year that didn’t exceed the strong levels set in 2015. But finishing just 1 percent below October 2015 sales is still a very solid performance,” said Dave Liniger, RE/MAX CEO, Chairman of the Board and Co-Founder. “It’s the 13th consecutive month of double-digit decline in inventory year-over-year, and that appears to have pushed prices up in all but one market.”

If you or someone you know is considering an upgrade in your retirement home but not sure what your home is worth, please give me a call today. I will provide you with a comprehensive look at market values, and a plan to help you successfully sell your home for top-dollar. I look forward to hearing from you soon.   

Your Arizona Retirement Expert,

Sharon Mason
RE/MAX Professionals
623-810-9988
www.RetireArizonaStyle.com 

Join Sharon on Facebook or Twitter!

Posted by Sharon Mason on December 7th, 2016 6:58 PM

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