Received a call from a reporter at Bloomberg News yesterday to discuss the "spike" in listings here in the Phoenix real estate market and elsewhere. Prior commitments kept me from returning the call, to be honest, but I also had a small issue with the premise for the story.
In short, there is no "spike" in inventory.
To my mind, a spike is a rather sudden, somewhat short-term phenomenon that appears more or less out of the blue for one reason or another.
That's not what has happened … [Read More...]
This weekend, I bought a chiminea ... it was a purchase in lieu of a fire pit because it looked cooler, though apparently it's not nearly as simple to use. (Thought the water was a bad idea, but not enough of one to stop the boy.
Truth is, there wasn't a gigantic need for a fire because it was about 60 degrees last night and that - not the chiminea - is the point of today's post.
Many of you reading this live in climes where 60 degrees in January either is a blissful dream or comes with a … [Read More...]
Inventory is on the rise again here in the Phoenix market after a sleepy start to the year.
As of the moment there are 16,505 detached homes for sale across Maricopa County; we had fallen below 16,000 homes in late December, bringing a temporary pause to what had been a steady rise over the prior few months.
Now the question is whether buyers are coming along for the ride, a question best answered at the end of February when the solds for that month are available. (For those less aware, … [Read More...]
And anyone who says they have any definitive sense of what 2014 will bring is more full of bluster than General Montgomery. (Which reminds me, for a really good read on World War II, check out Terry Brighton's Patton, Rommel and Montgomery. But I digress.)
Inventory, after climbing for months, has tailed off and now sits at 15,750 detached homes across the Phoenix area. Yet the decrease doesn't seem to signal much more than the change in the seasons, as inventory always tends to … [Read More...]