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Phoenix Valley Home Prices Keep Rising, Inventory Not Keeping Up

by Nate Martinez

Phoenix Valley Home Prices Keep Rising, Inventory Not Keeping Up

By Heather van Blokland

Housing prices are still rising for metro Phoenix. The June housing report shows median prices up 9.4 percent year over year to just under $300,000, but the real concern in Valley real estate is how few homes there are for sale.

There’s now a little less than a two-month supply of homes available for sale in the Valley, a critical low. That means, excluding new construction, if every home for sale right now sells, there’d be nothing left in sixty days.  One reason the supply is so low is because sellers are not moving out of homes to move away from the Valley, but rather to move into another home in the metro Phoenix area.

"The silver generation, if you will, are selling their bigger homes and buying something smaller and they just might be moving to a different community. You know, it may not be an active adult or retirement type community, it just might be a smaller home," said Nate Martinez, a REALTOR® with RE/MAX.

Martinez said the major concern is that new homes are just not being built quickly enough in the lower price ranges to meet buyers’ needs.

ATTOM Data Solutions’ Q2 2018 U.S. Home Sales Report finds sellers are getting more for their homes, with an average gain of $58,000, the highest average home seller gain since Q3 2007. And homeowners who had been holding on are now beginning to sell.

Homeowners who sold in Q2 2018 had owned an average of 8.09 years, the highest average homeownership tenure since ATTOM began tracking in Q1 2000.

With Appreciation,

Nate Martinez, RE/MAX Professionals
www.NatesHomes.com
www.NatesLuxuryHomes.com
602-430-5226
Nate@NatesHomes.com

Phoenix Valley Home Prices Keep Rising, Inventory Not Keeping Up

by Nate Martinez

Phoenix Valley Home Prices Keep Rising, Inventory Not Keeping Up

By Heather van Blokland

Housing prices are still rising for metro Phoenix. The June housing report shows median prices up 9.4 percent year over year to just under $300,000, but the real concern in Valley real estate is how few homes there are for sale.

There’s now a little less than a two-month supply of homes available for sale in the Valley, a critical low. That means, excluding new construction, if every home for sale right now sells, there’d be nothing left in sixty days.  One reason the supply is so low is because sellers are not moving out of homes to move away from the Valley, but rather to move into another home in the metro Phoenix area.

"The silver generation, if you will, are selling their bigger homes and buying something smaller and they just might be moving to a different community. You know, it may not be an active adult or retirement type community, it just might be a smaller home," said Nate Martinez, a REALTOR® with RE/MAX.

Martinez said the major concern is that new homes are just not being built quickly enough in the lower price ranges to meet buyers’ needs.

ATTOM Data Solutions’ Q2 2018 U.S. Home Sales Report finds sellers are getting more for their homes, with an average gain of $58,000, the highest average home seller gain since Q3 2007. And homeowners who had been holding on are now beginning to sell.

Homeowners who sold in Q2 2018 had owned an average of 8.09 years, the highest average homeownership tenure since ATTOM began tracking in Q1 2000.

With Appreciation,

Nate Martinez, RE/MAX Professionals
www.NatesHomes.com
www.NatesLuxuryHomes.com
602-430-5226
Nate@NatesHomes.com

Thanksgiving - what does it mean to you?

by Nate Martinez

"Thanksgiving Day comes, by statute, once a year; to the honest man it comes as frequently as the heart of gratitude will allow." ~ Edward Sandford Martin

In the midst of the husle and busle of planning, shopping and preparing for a bountiful feast we like to call Thanksgiving, it is important not to forget the true spirit of the holiday. I know there are plenty of us out therewho are struggling on a multitude of different levels -- with so much uncertainty in the world today, I can see how easily we could allow ourselves to be swept away by negativity, finanacial challenges, sadness or even illness. In those moments, we loose sight of how to find and embrace gratitude for our current situations. However, grace and thanksgiving are not just found in the moments of joy -- they can be found even in the eye of the heaviest challenge, if we allow gratitude an opportunity to shine through. The act of thanksgiving is what you make it and gratitude can be found in the laughter of a child, a warm hello from an old friend, a good nights rest after a long day --- or in time spent with family and friends around a table filled with a beautiful home-cooked Thanksgiving Dinner, as many of us will be doing tomorrow. 

It is unfortunate that we only celebrate Thanksgiving Day once a year as we really ought to spend a few minutes every day comtemplating even the simplest forms of joy and blessing we experience as we move through life -- perhaps some of you reading this will add "daily gratitudes" to your New Year's Resolution list! May the true spirit of Thanksgiving surround you and your loved ones, not only tomorrow but in the days, months and years to come...Happy Thanksgiving

Displaying blog entries 1-3 of 3

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