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RE/MAX National Housing Report for December 2018

by Melissa Dierks

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 year-over-year decline in home sales of 12.1 percent set a December record in the 10-year history of the report and also marked the fifth consecutive month that home sales were lower than 2017.  December was 2018’s 10th month of year-over-year declines in home sales with only April and July topping 2017 sales.

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.

“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.”

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.”

Of the fifty-three metro areas surveyed in December 2018, the overall average number of home sales is down -8.5 percent compared to November 2018, and down -12.1 percent compared to December 2017. None of the fifty-three metro areas experienced an increase in sales year-over-year. In December 2018, the median of all fifty-three metro Median Sales Prices was $240,000, up 2.1 percent from November 2018, and up +2.1 percent from December 2017. The average Days on Market for homes sold in December 2018 was fifty-four, up three days from the average in November 2018, and down three days from the December 2017 average.

Click here to download your copy of the RE/MAX National Housing Report for December 2018. . Looking to sell your Phoenix home or buy a home in Phoenix? Contact the Regal Team today! We offer unparalleled service to all clients in the Phoenix, Arizona real estate market. Your complete satisfaction with our service and representation is our number one priority!

Melissa Dierks

The Regal Team of RE/MAX Professionals
20241 N 67th Ave A1
Glendale, AZ 85308
(623) 229-0154

www.theregalteam.com
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December National Housing Report from RE/MAX

by Melissa Dierks

December National Housing Report from RE/MAX


Despite the typical winter slowdown, November home sales finished 19.1 percent above a year ago and prices increased 1.4 percent over October. All but one of the fifty-three markets in the December National Housing Report from RE/MAX posted an increased number of sales over November 2015, with nearly half of the markets at least 20 percent higher. Year-over-year, 2016 has posted price increases or stayed flat in all eleven months to date, and sales increases in nine months. November posted the largest percentage year-over-year sales increase thus far in 2016.

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 eleven 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.”

Every neighborhood is unique and values vary based on location, size, amenities and other important factors. If you are interested in learning more about your property values, please give us a call today.

The Regal Team of RE/MAX Professionals
7111 W Bell Road, Suite 101
Glendale, AZ 85308
(623) 229-0154
www.theregalteam.com

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RE/MAX National Housing Report for November

by Melissa Dierks

RE/MAX National Housing Report for November

According to the RE/MAX National Housing Report for November, Phoenix saw a +12.2% increase in property values. Despite a slight decrease in the number of transactions, this October is the second best in the history of the National Housing Report.  

“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.”

It is important to stay aware of your home values, even if you may not be planning a move. If you need help understanding the market conditions please give us a call today.

The Regal Team of RE/MAX Professionals
7111 W Bell Road, Suite 101
Glendale, AZ 85308
(623) 229-0154
www.theregalteam.com

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National Housing Report for October 2016

by Melissa Dierks

National Housing Report for October 2016

The National Housing Report for October 2016 indicates that the September Median Sales Price of $219,780 was 5.1 percent above a year ago. And 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.

“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.”

If you would like to read the full National Housing Report for October 2016, please click here. The inventory of available homes for sale, still far below the six month’s supply considered to be a market balanced equally between buyers and sellers. Now is a great time to consider selling your home! Give us a call today – Melissa  

The Regal Team of RE/MAX Professionals
7111 W Bell Road, Suite 101
Glendale, AZ 85308
(623) 229-0154
www.theregalteam.com

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REMAX National Housing Report for September 2016

by Melissa Dierks

RE/MAX National Housing Report for September 2016


The RE/MAX National Housing Report for September 2016 was published this week, and according to the 53 metro areas surveyed, the average number of home sales increased by 5.8 percent in August, compared to one year ago. To date, August 2016 was the seventh month with a year-over-year increase in sales. Good news for the housing market, indeed!

“August’s nearly 6 percent sales increase over last year is providing a strong finish for the summer home selling and buying season. While July saw a decline, August built upon the trends in the spring and early summer. Coupled with moderating price increases, the sales growth we’re seeing represents a market that’s very sustainable," said Dave Liniger, RE/MAX CEO, Chairman of the Board and Co-Founder. 

My team and I have had a record-setting year so far for 2016, and we would love to help you or anyone you know. Inventory is still low in Maricopa County which can mean top-dollar for your home. Give me a call today, and let us help you with your real estate needs! Melissa

Melissa Dierks
The Regal Team of RE/MAX Professionals
7111 W Bell Road, Suite 101
Glendale, AZ 85308
(623) 229-0154

www.theregalteam.com

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RE/MAX National Housing Report for August, 2016

by Melissa Dierks

RE/MAX National Housing Report for August, 2016 

According to the RE/MAX National Housing Report for August 2016, inventory has continued to tighten by dropping 3.0 percent lower than June and 16.6 percent lower than a year ago, resulting in a month’s supply of just 3.5. The average Days on Market dropped to fifty-three which is just one day less than the average in June and four days below last year.

“After a June jump in home sales, it's quite common to see July sales make a correction. This is a summertime pattern that we often see on a national level. Of course, one month doesn't make a trend and we still have a couple more months ahead in the traditional home-buying season. At the same time, it's important to note that, on a year-over-year basis, prices are rising at a moderate rate that's very much in line with historical averages," said Dave Liniger, RE/MAX CEO, Chairman of the Board and Co-Founder.

While there was a midsummer slowdown in sales, the national median sales price is still 4.7 percent higher this time last year, at $225,000. Click here for more information or to download your own copy of RE/MAX National Housing Report for August 2016.

If you are interested in learning what your Phoenix or surrounding metro-area home is worth, give The Regal Team a call today!

Melissa Dierks
The Regal Team of RE/MAX Professionals
7111 W Bell Road, Suite 101
Glendale, AZ 85308
(623) 229-0154
www.theregalteam.com

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Melissa Dierks
The Regal Team of RE/MAX Professionals
7111 W Bell Road, Suite 101,
Glendale AZ 85308
Direct: (623)229-0154
Office: (623)643-1092
Fax: (623)201-7562

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