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
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
“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
Mason - Associate Broker
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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
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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
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
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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%.
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
A Message of
“I love Thanksgiving because it's a holiday that is centered around food
and family, two things that are of utmost importance to me.” - Marcus
Thanksgiving Day provides us an opportunity to reflect on the year
and count our blessings. As a real estate agent, I have much to be thankful for
especially during the holiday season. They say that “home is where the heart is”
and on special days like Thanksgiving, my job means so much more to me. I am
blessed to have the opportunity to help so many wonderful people find a home
where they can make memories that last a life time!
Today, I wish for you to embrace the joy that comes from spending
time with family, the traditions that we share, and to know how grateful I am
for each of you. Wishing you and your loved ones a very happy Thanksgiving!
Your Arizona Retirement Expert,
Survive the Holidays:
Sun City West Workshop
Can’t we just get
along? That is a frequently asked question among families, especially
during the holiday season.
On November 17th the Ridge
Recreation Center in Sun City West is hosting a workshop with certified life coach, Linda Burridge to help seniors explore
new techniques to help better manage conflicts and misunderstandings during the
holiday season. Linda has thirty-five years of experience facilitating
leadership development, and helping people create a vision and plan of action
to successfully navigate life transitions.
The holidays don’t have to be stressful, or cause anxiety.
When values and communication styles differ, conflict can happen and the
holidays can bring out the best and worst in each other. Don’t miss out on the
joy that you seek while spending time with loved one, because of old conflicts,
misunderstandings or lack of open communication.
Join Linda Burridge on November 17, 2016 for the Can’t We Just Get Along Workshop. The event
will be held in the Acacia Room starting at 6:00 pm and there is a $10 fee to
attend. Click here for more information
or to register to attend.
Your Arizona Retirement