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RE/MAX National Housing Report for January 2019

by Nate Martinez

RE/MAX National Housing Report for January 2019

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. Looking to sell your Peoria home or buy a home in Phoenix and the surrounding areas? Contact the Nate Martinez Team today! We offer over thirty years of unparalleled service to all clients in the Phoenix real estate market!

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

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Softer Home Sales Start the New Year

by Nate Martinez

Softer Home Sales Start the New Year

Like last year, 2015 home sales are starting the year at a slower pace. January home sales were 3.9 percent lower than sales in January 2014. Last year, sales improved dramatically during the spring and summer months and three of the last four months of 2014 recorded higher sales than one year earlier. 

“One month certainly doesn’t make a trend. As we saw last year, home sales started rather slow, but rebounded during the prime selling months. In fact, 2014 ended with a respectable 4.9 million sales of existing homes, which we believe represents a sustainable rate of growth. So, we still need a few more months of data to tell how this market will perform in 2015.” Dave Liniger, RE/MAX, LLC CEO, Chairman and Co-Founder

With a constrained inventory, the January Median Price rose by 11.2 percent over last January. And the inventory of homes for sale was 10.9% lower than one year ago. At the current rate of sales, the corresponding Months’ Supply of inventory fell slightly to 5.2 on a scale where 6.0 indicates a market balanced equally between buyers and sellers. To read the full National Housing Report from RE/MAX, click here

If you or someone you know is interested in learning more about the value of homes in our market, please contact me today. Nate

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

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Year End Home Sales Bounce Back: National Housing Report from RE/MAX

by Nate Martinez

Year End Home Sales Bounce Back: National Housing Report from RE/MAX

Defying the normal trend, home sales in December rose above the number of November sales by a significant 14.4 percent. Sales were also 3.9 percent above those of last December. Although home sales have generally been lower in 2014 than 2013, three of the last four months have experienced sales higher than the same month last year. Home prices in December were also higher than one year ago, rising 5.9 percent. Inventory continues to be constrained, with 10.7 percent fewer homes for sale than last December. As a result, the Month’s Supply of inventory rose to 5.7 on a scale where 6.0 indicates a market balanced equally between buyers and sellers.

"After a sluggish start, it's nice to see the year end on a positive note. Even though we're well into the winter months, homebuyers felt confident enough to enter the market in greater numbers than just one month ago. And with prices rising at a much slower rate than last year, sellers continue to increase their equity, while buyers don't feel priced out of the market." Dave Liniger, RE/MAX, LLC CEO, Chairman and Co-Founder

To view the full National Housing Report for January, click here. If you or someone you know is considering a move, please give me a call today. Nate

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

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RE/MAX National Housing Report November 2014

by Nate Martinez

RE/MAX National Housing Report November 2014 

According to the November 2014, National Housing Report from RE/MAX, October marks the second consecutive month in 2014 with home sales higher than one year ago. Following the normal fall seasonal trend, October home sales were 0.8% lower than sales in September, but 2.6 percent higher than the level of sales in October 2013.

“Home sales in 2014 started the year slowly and then rose to equal the strong sales in 2013. They’ve now surpassed last year’s levels for two months in a row. Following usual seasonal trends and with prices rising at a reasonable rate, the market appears to be settling into a more sustainable growth pattern.” Margaret Kelly, RE/MAX, LLC CEO

The Median Sales Price of all homes sold in the 53 metropolitan areas surveyed in October was $193,000, which was 7.4 percent higher than the median price last October. Home prices in October followed the 2014 pattern of steady growth, but at a slower rate than the double-digit increases seen in 2013. To view the full National Housing Report from RE/MAX, click here.

For more information on your home’s value, please visit me at: http://www.valuemyarizonahome.com/

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

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RE/MAX National Housing Report for October

by Nate Martinez

RE/MAX National Housing Report for October

According to RE/MAX’s National Housing Report for October, home sales reached a higher level than this time one year ago. Following an expected seasonal trend, September home sales were 10.4 percent lower than sales in August. However, sales pushed past the mark set in September 2013 by 0.9 percent.

“It’s significant that September was the first month this year to see higher sales than last year. This demonstrates that there are interested buyers and the market is strong enough to rival last year’s brisk sales. While the change of seasons usually sees reduced sales, it’s good to see that home prices continue to rise at a more sustainable rate.” Margaret Kelly, RE/MAX, LLC CEO.

Sales throughout 2014 remained just below those in 2013, but finally in September sales inched above those one year ago. The Median Sales Price of all homes sold in the 52 metropolitan areas surveyed in September was $195,000, which was 5.4 percent higher than the median price last September. To read the full National Housing Report for October, click here. To find out property values on your Arizona home, visit me at: http://www.valuemyarizonahome.com.

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

RE/MAX National Housing Report for September

by Nate Martinez

The National Housing Report from RE/MAX for September tells us that while inventory is on the rise, the recovery continues and there is more and more stability in the housing economy.

While 2014 sales have not been on the rise as rapidly as the sales in 2013, this remains well above the sales of the same period in 2013.

“After a slow start to the year, 2014 home sales have been improving. Sales are following the expected seasonal pattern and are approaching the levels we saw last year. As inventory continues to build the recovery continues at a more stable and sustainable rate.” Margaret Kelly, RE/MAX CEO.

Of the last few months, we have seen a month-over-month increase in inventory. Based on the rate of home sales in July, and the increase of homes for sale, there was an increase of 4.3 month’s of inventory – where a supply of 6 month’s indicates a market balanced equally between buyers and sellers. To learn more about property values in our area, click here

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

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Updated National Housing Report from RE/MAX

by Nate Martinez

Updated National Housing Report from RE/MAX

January home sales feel lower, while prices continued to trend up - the change in sales can be attributed to the severe winter storms. The RE/MAX National Housing Report, found that the January median home price of $173,475 was 11.6 percent higher than the prices in January 2013. Click here to read the updated National Housing Report from RE/MAX.

“We usually expect to see fewer home sales in the winter months, but January experienced particularly severe storms in a large part of the country, which disrupted appraisals, inspections and closings. However, the real story for home sales in 2014 will begin to unfold in the coming spring and summer months.” Margaret Kelly, RE/MAX CEO.

Despite the extreme weather conditions, thirteen metro areas experienced sales higher than this time last year. As for us in Arizona, the weather has been the usual sunny but much warmer than the typical spring temperatures. While we are enjoying the sunshine, home prices continue to level out in our metro area. If you are interested in learning more about your property values today, please give me a call.

www.NatesHomes.com
602-942-7000

http://www.nateshomes.com/agent_files/Updated REMAX National Housing Report.pdf

RE/MAX National Housing Report for December 2013

by Nate Martinez

RE/MAX National Housing Report for December 2014

The RE/MAX National Housing Report, a survey of MLS data in 52 metropolitan areas, found the December median home price of $185,400 was 11.9 percent higher than the median in December 2012. After double-digit growth in home sales during the summer, sales cooled off, but December still saw a 0.7 percent year-over-year increase.

Slower sales growth is associated with a limited inventory of homes for sale coupled with increased lending requirements and mortgage fees. At the rate of home sales in December, the Months Supply of inventory rose to 5.9 months, nearly equal to the 6.0 supply that defines a market balanced equally between buyers and sellers.

The December RE/MAX National Housing Report found a 4.5 percent monthly increase in home sales, and a 0.7 percent increase in sales from December last year. On a year-over-year basis, home sales have increased in 29 of the last 30 months.

“It’s great that improving market fundamentals continued through the normally slower winter months, and we ended the year on a strong positive note.” Margaret Kelly, RE/MAX CEO. Click here to read the full National Housing Report for December 2013.

If you or anyone you know is considering a home purchase or sale, give me a call today. With property values and inventory stabilizing, it is a good time to considering a real estate move. Nate

www.NatesHomes.com
602-942-7000

October National Housing Report from RE/MAX

by Nate Martinez

October National Housing Report from RE/MAX

Home sales and prices in September were lower than August, but remained significantly higher than September last year. This makes September the 20th consecutive month for year-over-year increases in both sales and prices.

September home sales were up 10.7% and the Median Price of $185,000 was 12.2% above the price in September 2012. The RE/MAX Housing Report, a survey of MLS transaction data in 52 metropolitan areas, also found that inventory continues to decline at a slower rate. This is closer to the 6-month supply recognized as a balanced market with an equal number of buyers and sellers.

“It’s normal for the housing market to slow down a bit after the peak summer season, but it’s really encouraging to see that both sales and prices remain significantly higher than this time last year. The strong performance we saw this summer and throughout 2013 confirms we’ve passed the early stages of a housing recovery and are now moving toward a sustainable marketplace.” Margaret Kelly, CEO of RE/MAX, LLC

If you or someone you know is interested in learning more about the real estate market, please give me a call today. 

www.NatesHomes.com
602-942-7000

http://www.nateshomes.com/agent_files/October National Housing Report from REMAX.pdf

RE/MAX National Housing Report for September 2013

by Nate Martinez

RE/MAX National Housing Report for September 2013

The 2013 summer selling season ends on a strong positive note, according to the National Housing Report provided by RE/MAX, with both home sales and prices significantly higher than last year. August becomes the 19th month in a row that both metrics were higher than the same month in the previous year. August home sales were up 6.5% and the Median Price of $188,450 was 12.9% higher than August 2012.

“Despite low inventory and rising interest rates, demand for housing is strong, and both home sales and prices remain higher than one year ago. Now that the active summer season is behind us, the results are clear - 2013 is continuing the recovery that started in 2012.”  Margaret Kelly, CEO of RE/MAX, LLC. Click here to view the RE/MAX National Housing Report for September 2013.

If you or someone you know is considering a move, please give me a call today. The market in Phoenix has improved dramatically and homeowners who couldn’t sell this time last year, are now in a positive equity position. For a free market analysis of your home, please visit: www.ValueMyArizonaHome.com. I look forward to hearing from you soon. Nate

www.NatesHomes.com
602-942-7000

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Nate Martinez
RE/MAX Professionals
20241 North 67th Avenue, Suite A1
Glendale AZ 85308
623-643-1010
602-430-5226
Fax: 602-532-7352

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