In some parts of the valley, the market is so hot that a few people have been drawing parallels with 2005 and expressing fear of a bubble. While I agree that the Southeast Valley, Pinal County and parts of the Northwest Valley are much hotter than they have been for a while, the market is more akin to 2013 than 2005. I think some people forget quite how ridiculous 2005 was. It was exactly 12 years ago that: Days of Inventory stood at 28 (currently 85) Months of supply was 0.9 (currently 2.8) Annual appreciation rate was 27.9% (currently 6.8%) Dollar volume was up 43.9% annually (currently up 14.6%) Listing success rate was 84.3% (currently 81.9%) Average … [Read more...]
March 2017 Market Up!? ? VIDEO ?
click here➜ MORE March 2017 Market Stats We should recognize March 2017 as one of the strongest months for closed listings, with 9,272 over all areas & types. This is the highest monthly total since May 2013 and the highest total for March since 2005, making it the second most successful March ever. To be fair, March did contain 23 working days, the highest number we ever see in a month, so we should have expected a big number. But March 2016 also had 23 working days and only managed 8,363 closed listings. You can see the big spike in context in the long term sales chart here▼▼ Because it also benefits from the 6% appreciation since last year, the dollar volume chart is even more … [Read more...]
March 27, 2017 – Market Up!?
March 27 - Single family permits are not growing as fast as home sales. In February the 12 month count rose to 18,551 for Maricopa and Pinal Counties combined. This compares with 18,491 in January, a very modest 0.3% increase month to month. In February 2016, the 12 month count was 17,512, so the annual increase is currently running at 5.9%. Not only is the annual growth much slower than the rate of closings, the rate of growth is slowing down. Between January and February 2016 the month to month change in the 12 month count was 2.2%, which is nearly 7 times faster growth than we are seeing this year. We are not seeing new homes planned at the rate necessary to meet the current … [Read more...]
Chandler Community Event – The Ostrich Festival ?️ VIDEO ?️
Chandler is a prominent suburb of the Phoenix Metropolitan area. This event last weekend was the 29th annual Ostrich Festival. SO MUCH FUN. Have you been? It was very reminiscent of the state fair, both in size and atmosphere. Call 480-440-9409 for free advise on how you can effortlessly buy a home in less time for less money ➜ A Start to Finish Guide with powerful Negotiating Tactics. We have very sophisticated marketing plans to sell homes. It will blow your mind - Seriously - Call us today to find out more 480-440-9409 … [Read more...]