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Spring Home Sales Back on Pace as Price Increases Moderate

by Nate Martinez

Spring Home Sales Back on Pace as Price Increases Moderate

April home sales finished just one percent below a year ago as selling times shortened and tight inventory held steady, according to the RE/MAX National Housing Report. Meanwhile, April's median home price of $255,000 in the report's 54 markets was up a mere 3.6 percent - the smallest year-over-year April increase in eight years.

April's year-over-year sales decline of one percent marked the ninth consecutive month of year-over-year decreases, but April's sales dip was the smallest during that time. At the same time, inventory increased 0.8 percent and marked the seventh consecutive month of year-over-year growth in number of homes for sale. Compared to March, home sales in April sped up by a full week, taking an average of 52 days instead of 59. The average in April 2018 was 51 days. The Months Supply of Inventory in April dropped year-over-year from 3.0 to 2.6.

While the March-over-February increase in home sales of 28.8 percent was the smallest in five years, the April-over-March increase of 10.5 percent was the largest in five years.

"April's home sales blossomed, suggesting the typical seasonal jump in spring sales arrived later than usual this year," said RE/MAX CEO Adam Contos. "Solid buyer interest and sellers with realistic price expectations advanced the market's march toward equilibrium last month. That said, inventory remains constricted, and prices continue to climb, albeit at a slower rate. All in all, April's results were encouraging, and we continue to be cautiously optimistic about the prospects of a healthy spring selling season."

Of the 54 metro areas surveyed in April 2019, the overall average number of home sales is up 10.5 percent compared to March 2019, and down 1.0 percent compared to April 2018. In April 2019, the median of all 54 metro Median Sales Prices was $255,000, up 2.0 percent March 2019, and up 3.6 percent from April 2018.

The average Days on Market for homes sold in April 2019 was 52, down seven days from the average in March 2019, and up one day from the April 2018 average. The metro areas with the lowest Days on Market were Omaha, NE, at 27, and Denver, CO, and San Francisco, CA, both at 30. The highest Days on Market averages were in Augusta, ME, at 116, Hartford, CT, at 89, and Miami, FL, at 86. Days on Market is the number of days between when a home is first listed in an MLS and a sales contract is signed.

Looking to sell your Phoenix home? Searching for the perfect Phoenix home to buy? Contact the Nate Martinez Team today! Our commitment is to provide you the quality of service and communication you desire and deserve. Our goal is to leverage our knowledge and experience to help you get the best price the market will support while still selling your home in a reasonable period of time.

With Appreciation,

Nate Martinez, RE/MAX Professionals

602-430-5226
www.NatesHomes.com
www.NatesLuxuryHomes.com
Nate@NatesHomes.com

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March Sales Signal Slowest Start to Spring Homebuying Since 2014

by Nate Martinez

March Sales Signal Slowest Start to Spring Homebuying Since 2014

Kicking off the spring homebuying season, March sales climbed almost twenty-nine percent over February, according to the RE/MAX National Housing Report. But this remains the slowest start in five years, with March sales 8.6 percent lower than March 2018.

March was the eighth consecutive month of year-over-year sales declines and the sixth straight month of year-over-year inventory growth, with a 5.3 percent gain. Housing activity in the report’s 54 markets nationwide also saw the Median Sales price grow by 3.4 percent year-over-year – notably smaller than the year-over-year increases in February (5.5 percent) and January (4.6 percent).  However, the median sales price has risen by more than 3% year-over-year in 17 of the last 18 months.

From 2015 to 2018, the housing market’s spring sprang to life with an increase in sales from February to March averaging 37.0 percent. March 2019’s month-over-month increase of 28.8 percent was the smallest since 24.6 percent in 2014. Days on Market increased to 59 from 57 last March, while Months Supply of Inventory declined year-over-year to 2.7 from 3.0.

“It was encouraging to see month-over-month sales improve during March,” said RE/MAX CEO Adam Contos. “Although the seasonal bounce that typically ends the first quarter wasn’t as strong as in the past few years, conditions are in place for a healthy spring selling season. Falling interest rates, rising inventory and moderating price increases against the backdrop of a healthy overall economy are cause for optimism for buyers and sellers alike.”

The average Days on Market for homes sold in March 2019 was fifty-nine, down three days from the average in February 2019, and up two days from the March 2018 average. Days on Market is the number of days between when a home is first listed in an MLS and a sales contract is signed. The number of homes for sale in March 2019 was up 0.3 percent from February 2019. Based on the rate of home sales in March 2019, the Months Supply of Inventory decreased to 2.7 from 3.7 in February 2019, and from 3.0 in March 2018. A six-months supply indicates a market balanced equally between buyers and sellers.

Click here to download your copy of the RE/MAX National Housing Report for March 2019.  Looking to sell your Phoenix home or buy a home in Phoenix? Contact the Nate Martinez Team today! We offer unparalleled service to all clients in the Phoenix real estate market.

With Appreciation,

Nate Martinez, RE/MAX Professionals

602-430-5226
www.NatesHomes.com
www.NatesLuxuryHomes.com
Nate@NatesHomes.com

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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

Displaying blog entries 1-10 of 13

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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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