Retire AZ Style News

RE/MAX National Housing Report

A sixth consecutive month of declining home sales in January contributed to the largest year-over-year inventory increase in at least ten years, according to the RE/MAX National Housing Report.

While year-over-year home sales dropped eleven percent – extending a streak that began in August – inventory grew year-over-year by an average of 6.4 percent across the report’s fifty-four U.S. metro areas. January marked the fourth consecutive month of year-over-year inventory growth – further reversing a decade-long trend of shrinking inventory. December 2018’s year-over-year inventory growth of 4.7 percent was the previous record in the report’s ten-year history.

“The winter chill extended to the housing market in January, as home sales remained cool,” said RE/MAX CEO Adam Contos. “The good news is that inventory levels in January continued to rise on a year-over-year basis, providing incremental improvement in what’s been a multi-year shortage of for-sale homes. This is a positive for homebuyers, as the market continues to swing their way.”

The median sales price of $234,000 was a report record for January, increasing 4.6 percent over January 2018. But the rate of sales price increase was considerably less than the 6.7 percent posted from January 2017 to January 2018. December 2018 was the only month since January 2012 to show a year-over-year decline in median sales price. Fifty-nine days on market was a record low for January sold listings – averaging one day less than the 60 posted in January 2018. January’s 3.9-month supply of inventory was higher than the 3.4-month supply of January 2018.

“Underlying demand remains solid overall, as evidenced by widespread price increases,” said Contos. “So the housing market, while not markedly busy in January, remains relatively healthy. Furthermore, with interest rates stabilizing and home-price increases slowing, the spring selling season shapes up to be as interesting as any we have seen in years.”

Of the 54 metro areas surveyed in January 2019, the overall average number of home sales was down 26.1 percent compared to December 2018, and down 11.0 percent compared to January 2018. In January 2019, the median of all 54 metro Median Sales Prices was $234,000, down 2.5 percent from December 2018, and up 4.6 percent from January 2018. The average Days on Market for homes sold in January 2019 was fifty-nine, up four days from the average in December 2018, and down one day from the January 2018 average. For more info, please click here to download your copy of the RE/MAX National Housing Report for January 2019.

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 March 4th, 2019 2:00 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

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