Retire AZ Style News

RE/MAX National Housing Report November 2018

Years of shrinking inventory gave way in November to a second consecutive month of year-over-year growth in the number of homes for sale, according to the RE/MAX National Housing Report. The apparent reason: Home sales declined for the fourth consecutive month when compared to the same months in 2017. Even so, home prices remained strong.

Across the 53 metro areas surveyed, inventory rose 3.0 percent – the highest monthly year-over-year gain in the 10-year history of the report, following October’s 1.0 percent increase that ended a streak of 119 months of year-over-year declines dating back to November 2008. The Months Supply of Inventory rose to 3.9, the highest for any month since 4.2 in December 2016.

November home sales, meanwhile, declined 6.9 percent, which was the second-largest year-over-year decline of 2018 and the biggest year-over-year sales decline for November in five years. This year only April and July sales exceeded 2017 totals for the corresponding months.

“The road to market normalization can be bumpy,” said RE/MAX CEO Adam Contos. “It’s good to see the small uptick in inventory, and the drop in November sales isn’t too surprising – given the recent trends, the mid-term elections, and the earlier-than-usual Thanksgiving holiday. As we near year-end, three main themes appear clear – buyers are grappling with affordability issues and tight inventory; sellers are unsure how to react to the cooling market; and homes priced properly are still selling rather quickly. All three underscore the fact that the guidance of a professional agent is even more critical in times like these.”

November’s Median Sales Price of $235,000 was 4.0 percent higher than November 2017 and was the highest November price in the report’s history. It marked the 32nd consecutive month of year over-year price increases. Comparing the first 11 months of 2018 to 2017, home prices are up 6.0 percent. Even with declining sales, homes sold at record speed for November. Homes spent an average of 51 Days on Market, compared to the previous November low of 54 days set last year.

Click here to download your copy of the RE/MAX National Housing Report for November 2018. If you would like to sell your home or find the perfect home for sale in one of the many Arizona retirement communities please contact Sharon Mason today!

Your Arizona Retirement Expert,

 

Sharon Mason - Associate Broker

RE/MAX Renaissance

623-810-9988

www.SharonMasonRealtor.com

www.RetireArizonaStyle.com 

Join Sharon on Facebook or Twitter!

Client Testimonials Click Here

Posted by Sharon Mason on December 28th, 2018 9:39 PM

RE/MAX National Housing Report for October 2018

The third consecutive month of lower year-over-year home sales in October contributed to the first year-over-year inventory increase in a decade according to the RE/MAX National Housing Report for October 2018. Meanwhile, the Median Sales Price recorded one of its lowest increases of 2018.

The RE/MAX National Housing Report for October saw sales decline 4.6 percent from a year ago – compared to sales drops of 11.6 percent in September and 1.1 percent in August – and was the eighth month of 2018 to record lower sales than 2017.

As a result, inventory is slowly being replenished, with the number of homes for sale in October increasing 1.0 percent over October 2017. October 2018 was the first month to show a year-over-year increase in inventory since October 2008 when two and a half times as many homes were for sale. The Months Supply of Inventory is now 3.5, compared to 3.3 a year ago.

“The market continues to move toward equilibrium. The modest inventory increase is a much welcome sign for buyers,” said RE/MAX CEO Adam Contos. “Although home sales were down year-over-year, it’s encouraging to see the magnitude of the decline decrease from the sharp drop we witnessed in September. The trend of easing price increases remains and that’s also a positive.”

October’s Median Sales Price of $236,000 marked the 31st consecutive month of year-over-year price increases and was the highest October price in the 10-year history of the report. Even so, the 4.9 percent gain was the third-lowest year-over-year growth of 2018.

Days on Market of 48 was an October record for fewest days and compares to 51 days in October 2017.

“The imbalance that has defined this market for so long continues to moderate,” said Contos. “However, it will take some time to recalibrate. Rising prices and interest rates and tight inventory levels continue. Buyer and seller expectations still appear to be a bit mismatched suggesting a choppy market remains in place.”

Click here to download your copy of the RE/MAX National Housing Report for October 2018. If you are looking to sell your Arizona home or are ready to buy a home in a luxury Arizona retirement community, please contact Sharon Mason today!

Your Arizona Retirement Expert,

 

Sharon Mason - Associate Broker

RE/MAX Renaissance

623-810-9988

www.SharonMasonRealtor.com

www.RetireArizonaStyle.com 

Join Sharon on Facebook or Twitter!

Client Testimonials Click Here

Posted by Sharon Mason on November 30th, 2018 1:46 AM

July 2018 RE/MAX National Housing Report

July home sales rose 1.8 percent year-over-year, making it the second month of 2018 to post a sales increase year-over-year, according to the RE/MAX National Housing Report. To access the housing report infographic, visit: https://rem.ax/2phKHWT.

In the July 2018 report, 37 of the report’s 54 metro areas posted sales increases over July 2017—April was the first month of 2018 where more homes were sold than the same month in 2017. The report also marks the 28th consecutive month of year-over-year price increases.

The Median Sales Price of $250,575 was up 4.4 percent from July 2017, and represents the third-highest price in report history—topped only by May and June of this year. Months Supply of Inventory was at 2.9 – the smallest total ever recorded for July.

Forty-two of the 54 metro areas reported a year-over-year drop in inventory. The Days on Market dropped to 41 – four days less than July 2017 and one day under the previous nine-year low set in June 2018.

“Because we’ve faced challenging inventories and increasing home prices for some time now, a seasonal slowdown that rebalances the market a bit might actually be a positive in the months ahead,” said RE/MAX CEO Adam Contos. “It could level affordability to some extent and create more opportunity for buyers who’ve been priced out of hot markets.”

The average Days on Market for homes sold in July 2018 was 41, down one day from the average in June 2018, and down 4 days from the July 2017 average. The number of homes for sale in July 2018 was down 0.3 percent from June 2018, and down 7.8 percent from July 2017. Based on the rate of home sales in July, the Months Supply of Inventory increased to 2.9 from 2.7 in June 2018, and decreased from 3.1 in July 2017. A 6.0-months supply indicates a market balanced equally between buyers and sellers. In July 2018, all but one of 54 metro areas surveyed reported a months supply at or less than 6.0, which is typically considered a seller’s market.

Want to know more? Click here to download your copy of the July 2018 RE/MAX National Housing Report. If you are looking to sell your Arizona home or are ready to buy a home in a luxury 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 28th, 2018 3:59 PM

June 2018 RE/MAX National Housing Report

The housing prices are at record highs while inventory is at record lows and home sales are trailing 2017’s pace, according to the RE/MAX National Housing Report. June sales were 5.5 percent lower than June 2017 in the fifty-four metro areas surveyed, marking the seventh consecutive month of year-over-year declines.

Headed in the opposite direction, the June Median Sales Price of $258,500 was an all-time high in the nine-year history of the report. It was 5.1 percent higher than the $245,000 recorded last June, bringing the consecutive months of year-over-year price increases to 27. In each of the previous five years – going back to June 2013’s $193,750 – June has posted the highest Median Sales Price of the year.

“Year-over-year prices have been climbing for more than two years now, which is great news for homeowners and sellers,” said RE/MAX CEO Adam Contos. “In the hottest markets, demand is especially high because there simply aren’t that many homes for sale. The slower sales figures we’re seeing are tied to inventory more than anything else.”

Forty-two of the fifty-four metro areas reported a year-over-year drop in inventory. That years-long trend is reflected in Months Supply of Inventory dropping to 2.7 – down 8.8 percent year-over-year and the smallest figure ever recorded for June. Fewer houses for sale generally results in a faster process: Homes sold in June averaged just forty-two Days on Market – five days less than June 2017 and three days under the previous nine-year low of forty-five days.

“Lack of inventory has become a theme for the year,” Contos said. “Having fewer homes to choose from poses a challenge for buyers, who need to be ready to act decisively and quickly. Working with a full-time, professional RE/MAX agent can prepare them for that.”

To access the housing report infographic, visit: https://rem.ax/2phKHWT or click here to download your copy of the June 2018 RE/MAX National Housing Report. If you are looking to sell your Arizona home or are ready to buy a home in a luxury 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 1st, 2018 12:53 PM
April 2018 National Housing Report

If you are looking for a new home, chances are you’re not finding many homes on the market. If you’re a seller, you have likely noticed the value of your home is rising — no matter what part of the country you live in.

According to the April 2018 RE/MAX National Housing Report, home prices continued to climb year-over-year for the twenty-fourth consecutive month in March, while home sales continued to decline for a fourth consecutive month, making it a seller’s market in most regions of the country.

“Homebuyers shouldn’t be discouraged by the record-breaking numbers — even with higher prices and closed transactions, this March marks the second-highest in sales in the history of the RE/MAX National Housing Report,” said RE/MAX CEO Adam Contos. “It’s more important than ever to work with an experienced RE/MAX agent who is invested and involved in their community. They are dialed into the nuances of a neighborhood, making your home search or sale easier and quicker.”

When the months supply of inventory falls below six months, it’s a seller’s market, and all 54 metro areas surveyed for the monthly housing reported under six months of inventory. “We also look at the Days on Market as another indicator of tight inventory and the national average stands at 60 days,” said Contos. “That’s four days less than a year ago and another March record-breaker.”

Of the fifty-four metro areas surveyed in March 2018, the overall average number of home sales increased +36.6 percent compared to February 2018 and decreased -5.3 percent compared to March 2017. In March 2018, the median of all fifty-four metro Median Sales Prices was $236,000, up +3.2 percent from February 2018 and up +4.9 percent from March 2017. The average Days on Market for homes sold in March 2018 was sixty, down two days from the average in February 2018, and down four days from the March 2017 average. Days on Market is the number of days between when a home is first listed in an MLS and a sales contract is signed.

To access a copy of the RE/MAX April 2018 National Housing Report, click here. If you’re an active adult or retiree ready to buy a home in an Arizona retirement community or sell your Sun City home, please contact Sharon Mason today!

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 April 24th, 2018 7:05 PM
May 2017 RE/MAX National Housing Report

The brisk start to the 2017 home-selling season slowed down in April with home sales dropping 4.1 percent below March and 4.5 percent below the previous April, according to the May 2017 RE/MAX National Housing Report.

“We may be seeing some frustration from buyers,” said Dave Liniger, RE/MAX CEO, Chairman of the Board and Co-Founder. “Inventory is tighter than ever, while strong demand keeps driving up home prices. At the same time, many potential sellers may also be reluctant to list their homes because the tight inventory might impact them as buyers. Home buyers and sellers will need to work with experienced real estate agents to navigate this tough market.”

More than three quarters of the report’s fifty-three metro areas saw April home sales decline year-over-year. By contrast, March posted a 6.6 percent year-over-year spike in sales. Even so, April saw homes sell for more than they did in March in 81 percent of the markets, while 92 percent of the markets saw higher year-over-year sale prices.

Yet the narrative of the ever-tightening inventory coupled with increased prices persisted, as the fifty-three-metro area report saw the trends of a seller’s market continuing:

  • The average number of Days on Market declined for the third consecutive month and April’s fifty-seven days set a new low for April in the report’s nine-year history.
  • The Median Sales Price of $226,000 was the highest price for any April and marked the 13th consecutive month of year-over-year price increases. 
  • Months Supply of Inventory, which dropped below three months in March for the first time in the report’s history, was 2.8. A months supply of less than 6.0 is considered a seller’s market. 
  • Inventory was down 17.6 percent from April 2016.
Click here to read the May 2017 National Housing Report brought to us by RE/MAX Headquarters. If you or anyone you know is interested in learning what home values are in Arizona’s retirement communities, please give me a call today.

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 June 4th, 2017 11:19 AM

November Home Sales Defy Seasonal Trend: National Housing Report

Despite the typical winter slowdown, November home sales finished 19.1 percent above a year ago and prices increased 1.4 percent over October. Last month saw more homes sold than any other November in the eight-year history of the National Housing Report from RE/MAX. All but one of the fifty-three markets surveyed posted an increase in sales over November 2015, with nearly half of the markets at least 20 percent higher.

 

The continued decline of inventory and talk of rising interest rates may have contributed to November’s surge of home sales,” said Dave Liniger, RE/MAX CEO, Chairman of the Board and Co-Founder. Over the past 11 months, the majority of markets have seen home prices return to their pre-recession levels, reaffirming that 2016 has been the best year for the housing market since the recession.”

The 2017 Housing Forecast by the experts at realtor.com are predicting that the Phoenix-metro area will be number one with a projected increase in home values by 5.94 percent and a sales growth of 7.24 percent.

A strong housing economy is good for homeowners, especially those who are considering Arizona as their retirement destination in 2017. If you would like to learn more about retirement in Arizona, please give me a call today. I can help you successfully navigate all your retirement options, and help you make the right decision for your golden years. I look forward to hear from you soon – Sharon

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

Join Sharon on Facebook or Twitter!

Posted by Sharon Mason on January 4th, 2017 3:06 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

October National Housing Report from RE/MAX 

According to the October National Housing Report from RE/MAX, the median sales price for September was 5.1 percent above last year, coming in at $219,780. In a rare occurrence, not a single metro posted a year-over-year price drop. The average Month’s Supply of Inventory rose from 3.4 in August to 3.9, the highest since February.  We are still far below the six month’s supply considered to be a market balanced equally between buyers and sellers. Eight markets, predominantly in the Northeast, have a six or more month supply. Meanwhile, nineteen have three months or less, with the majority being in the West. 

“The market usually sees fewer home sales in September, as buyers make a seasonal transition from summer to fall,” said Dave Liniger, RE/MAX CEO, Chairman of the Board and Co-Founder. “Even so, sales were the highest of any September since we launched our Housing Report in 2008. Also, price increases continue to be in the moderate 5-percent year-over-year range. Overall, this is a market that most everyone can be satisfied with.”

To read the full October National Housing Report from RE/MAX click here. Are you considering a move but unsure of your home values? I can help! Give me a call today to receive a complimentary market analysis and a written plan to get your home sold for top dollar in today’s market. Sharon

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 November 3rd, 2016 1:20 PM

3 things you need to know about the spring National Housing Report

Want to stay on top of the current real estate market and real estate trends? Here are 3 things you need to know about the spring National Housing Report.

1.) Home sales are up: March started off strong with a 33.4 percent jump in sales from February according to the April 2016 RE/MAX National Housing Report. Like February, March home sales appeared to be especially strong with sales that were 3.6 percent greater than sales from March 2015. The average year-over-year increase in home sales has been 4.9 percent.

2.) Home inventory is low: At the rate of home sales in March, the National Months Supply of inventory was 3.2, down from 3.7 in March 2015. The average loss of inventory on a year-over-year basis in 2015 was 12.2 percent. The inventory of homes for sale remains very tight in many markets across the country, with March seeing a level that is 13.3 percent lower than a year ago.

3.) Days on the market are down: Days on Market is the number of days between when a home is first listed in an MLS and a sales contract is signed. March becomes the thirty-sixth consecutive month with a Days on Market average of eighty or less. The average Days on Market for homes sold in the metro areas in the survey March was seventy-one, down four days from the average in February, and seven days lower than the average in March 2015.

Want to know more about the current real estate market? Click here to download your copy of the April 2016 RE/MAX National Housing Report. If you are looking to sell your Arizona home or are ready to buy a home in a luxury 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 May 5th, 2016 3:42 PM

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