Current Metro Phoenix Real Estate Market

Boring, flat, tedious, tame and humdrum are just a few of the terms local writers have used to describe the first six months of our housing market. If our current housing market were a color, it would most likely be beige. Home sales volume for the first half of 2014 was 16.4% lower than the […]

Southeast Valley Active Listings Update July 2014

Total Active Listings as of July 3, 2014 = 24,409*, approximately 3.36 months supply Total Active Listings as of June 11, 2014 = 25,240*, approximately 3.30 months supply Total June 2014 Closings for metro Phoenix are 7,263, and down again from 7,508 closings in May, however active listings for the metro area are also down […]

Southeast Valley Active Listings Updates May 2014

Total Active Listings as of May 9, 2014 = 26,292*, approximately 3.43 months supply.  Total Active Listings as of April 10, 2014 = 26,722*, approximately 3.96 months supply and down by 430 fewer listings. Total April 2014 Closings for metro Phoenix 7,673, up from 6,743 closings in March.  Thus far however, closings in 2013, January […]

The Information Market by Tom Ruff of ARMLS

Sales activity in March came in pretty much as expected. In February we had projected 1,400 fewer sales year-over-year and an uptick in the median home price. Year-over-year sales volume in March was down 17.7% with 1,441 fewer sales than the previous year.  The decline in sales volume exists al­most entirely in homes purchased for […]

December 2013 ARMLS STAT Report

To highlight the Dec 2013 STAT report and commentary by Tom Ruff of The Information Market, I note the following: November closings 5,206 (compared to 6,810 last Nov) (ill. #1) Sales volume down 23.6% from last year New listings down 22.4% (month -over-month) and 2.8% lower than last Nov New November listings 8,304 Total inventory […]

Phoenix #3 of 7 Markets Showing Big Home Price Growth

Happy New Year! Good news on the housing front…. Home prices are inching up across the country, as a housing recovery ripples through once hard-hit areas. AOL Real Estate, drawing from Trulia housing data, recently highlighted the top “turnaround housing markets” that have seen the biggest jumps in median home prices in the past year. […]

Another Sign That Home Prices Have Hit Bottom

Economists are increasingly confident that home prices have bottomed out. For the last three years, home prices have usually risen in the spring and summer to only then lose all of those increases—plus more—in the fall and winter months. However, economists expect this year to be different and do not foresee such a big drop […]