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Jonathan Dalton
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Phoenix Market Update

State of the Phoenix Real Estate Market

There are a few things happening in the Phoenix real estate market that, for those with a sense of the past, could possibly cause a little bit of heartburn … At the moment, there are just over 12,000 single-family detached homes for sale in Maricopa County which, for long-time readers will know, is an area the size of New Jersey. There have been about 6,300 sales over the past 30 days – not nearly as high as the 7,800 back in 2005 and far off the depths of the market after the bubble burst. At that sales pace, there’s about […]

What We Know and What We Feel

Real estate, no matter how you look at things, tends to be more art than science. It’s easy to try and draw conclusions based on what we can see in the market, such as the fact there are 16,214 detached homes for sale in Maricopa County where early in the summer there were roughly 9,000. Rising inventory only can mean prices will fall. That’s what we’ve learned from the theory of supply and demand. Except it’s not really that simple. So many factors, both internal to the industry and external, influence the real estate market that it’s often impossible to […]

Phoenix Real Estate September 2013 Market Report

My pardons for how quiet it’s been but I’ve spent pretty much the past week (kidney) stoned and not much in the mood to write. Since I’ve been gone, inventory has continued to soar. As of the moment, we’re at 13,844 detached homes for sale in Maricopa County – that’s an increase of 7 percent in just the past 11 days since my last stats post. And I’m not expecting that number to decrease for some time to come. Rolling through the archives, I’ve been talking about the rise of inventory for the past several months. And it appears the […]

“The Foreclosure Deals are Long Gone.”

Such was the lament in yesterday’s Arizona Republic, an article that gained national play through USA Today (Gannett News Service owns both.) More than 100,000 houses stood vacant across metro Phoenix barely three years ago — roughly one of every 10. Today, it’s more like one out of every 100. Where have all the empty houses gone? Abandoned properties pockmarked virtually every neighborhood in the region in 2010, when the housing crisis peaked. It’s true that abandoned homes are becoming harder to find. And as an agent, I now actually have to double-check a listing before taking a buyer there […]

More on the State of the Phoenix Real Estate Market

Nothing brings the amateur economists out of the woodwork like word that the Phoenix real estate market is starting slow down. Yep,,,, market hit saturation point in relation to incomes. Get ready for stagnant prices for the next 5-8 years… Oh and don’t forget, when you buy a home you are virtually in the hole 7% right off the bat if you need to sell traditionally via a real estate agent! That was a comment on yesterday’s post left on Facebook. I don’t disagree on the idea of leveling prices but I do disagree on the timeframe and the idea […]

Homes for Sale in Phoenix are Spiking Higher

Inventory of homes for sale in the Phoenix real estate market is spiking higher by the day right now, causing the current rabid sellers’ market to calm down ever so slightly. As of the moment, there are 10,324 single-family detached homes for sale in Maricopa County. That’s still about 1,000 less than what we had at the beginning of the year, but also up about 1,000 from the lows six or so weeks ago. Some important notes: It’s not shadow inventory; there only are 438 bank-owned homes active on the market. It’s not distressed inventory; there only are 408 short […]

Phoenix Market Update – July 2013

It’s human nature … nobody wants to believe the good times are going to end. The Roaring 20s, with an economy built almost entirely on credit? What could possible go wrong? Troy? Forget what Cassandra has to say and pass the wine. The Roman Empire? Too big to fail. The honeymoon phase of any marriage … well, okay, you get the drift by now. How about the Phoenix real estate market of the past year? Values have soared higher as inventory shriveled into the several thousands and buyers continued taking advantage of historically ludicrous low interest rates to purchase homes. […]

Phoenix Real Estate Market Forecast Depends on the Viewer

I’m in the midst of reading George RR Martin’s Songs of Fire and Ice, more commonly known as Game of Thrones thanks to the first novel and the HBO series, for the second time. And in the second book (as well as the second season) there is the emergence of the red comet, a comet so bright it can be seen in the daylight (although, oddly, it never seems to change position in the sky which is, of course, impossible.) Everyone who views the comet – from Daenerys to Catelyn Stark to Robb Stark to Joffrey Baratheon to the men […]

Phoenix Real Estate Market Report – June 2013

As usual, a little late but still worth taking a look. Oh, and there’s a special offer at the end of this bad boy so stick with it. Or scroll down. Whichever. Last month, there were 6,980 closed sales of single-family detached homes in Maricopa County as reported by the Arizona Regional MLS (data deemed reliable but not guaranteed, check your local listings for details.) This compares to 6,287 last year when there were higher inventory levels and 7,138 back in 2011. Of those 6,980: 505 … yes, only 505 … were bank owned homes (also called REOs or foreclosures) […]

Phoenix Real Estate Market Report – April 2013

Okay, let’s run through some numbers. And, as always, all data is provided by the Arizona Regional MLS and is deemed reliable but not guaranteed … As of the moment there are 9,670 single-family detached homes for sale across Maricopa County; this figure has remained stable for the past handful of weeks. Last month, there were 6,356 detached homes sold in Maricopa County, compared to 6,096 last year … 521 were bank-owned homes, compared to 1,076 last year 881 were short sales, compared to 1,573 last year 162 were HUD homes, compared to 101 last year Just for fun, I […]

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