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Jonathan Dalton
ePro, SFR

Phoenix Market Update

Can the Phoenix Real Estate Market Recovery Sustain Itself?

There have been a pair of articles of note of late, spelling doom for the national real estate housing market. The first comes from SeekingAlpha, where the downturn in existing home sales as reported by NAR has the author believing the bull market of the past year-plus is going to stall. I’m hard pressed to disagree, if only because the double-digit appreciating we have seen here in the Phoenix real estate market cannot be sustained. At some point, inventory is going to climb as increasing numbers of home owners either take advantage of the equity recently built or find themselves above […]

A(nother) Year Without Inventory

Taking a quick look at the Arizona Regional MLS and we have 9,747 detached homes for sale across Maricopa County, an area roughly the size of New Jersey. For those unsure, that’s not a lot of homes. That doesn’t, however, stop the misinformation from rolling along from ear to ear, though I don’t really know where it begins. The other day, one of my contractors asked me about the rising tide of homes and was quite surprised to learn inventory has dropped by 20 percent from the start of the year. And the homes on the market, by and large, […]

Phoenix Market Update – April 1

Don’t let the date fool you … here are some real numbers on day generally filled with bunk. As of the moment, there are 10,063 detached homes for sale in Maricopa County. This remains about 10 percent below where we were at the start of the year. Local mainstream media finally is catching on. Channel 3 last week ran a quick story that said we’re in a sellers’ market, so I guess that makes it official. Even though, you know, I’ve been saying the same thing for much of the past year. Bank owned homes remain almost non-existent – there […]

Phoenix Real Estate By the Numbers – February 2013

Yes, yes, I know … March is almost done and I’m just posting February numbers. So be it. In February, there were 4,797 closed sales on single-family detached homes in Maricopa County, down from last year’s 5,255 for the month. 487 of the sales – barely 10 percent – were bank owned homes. Last year, 1,140 homes – 22 percent – were sales of foreclosures. 125 were HUD homes (FHA loans since foreclosed), last year there were 114 793 – 16 percent and change – were short sales. Last year? 1,539, or 29.2 percent Put it all together, and this […]

Down More Rabbit Holes than I Can Count

Has it really been nearly a month since I’ve written a post? And did I really write only four posts in February? The thing none of all the wonderful social media guru types tells agents is that real estate blogging takes work. Not so much the effort of writing itself, though for many the idea of putting three words together in coherent form is a challenge, but in constantly coming up with ideas and then taking the time to write. So last month there were the multiple closings all taking place ahead of a scheduled family vacation in Disneyland ahead […]

Is the Change in the Phoenix Real Estate Market All Hype?

Such is the state of the mainstream media, not to mention the its-a-great-time-to-buy ethos of the National Association of REALTORS, that it’s often difficult to determine whether the proclaimed recovery of the Phoenix real estate market is more hype than reality. Here are a few signs that would lead one to believe what we’re seeing is legit … 1. Inventory’s still really low. We’re actually back down below 11,000 detached homes for sale in Maricopa County even though this is the time of year when listings start sprouting like weeds. Don’t get the wrong idea – new listings are coming […]

Phoenix Real Estate By the Numbers – January 2013

Let’s take a look at the Phoenix real estate market by the numbers in January. And I promise, we’ll keep the lights on through the entire post. As of the moment, there are 11,025 detached homes for sale. As I said this weekend, that’s essentially the same level we’ve been at for the past couple of months. In January, according to the Arizona Regional MLS (add disclaimer of your choice here) … There were 4,247 closed sales, down roughly 10 percent from last January’s 4,682. Understandable, given the thinner inventory. Of those, 584 were sales of bank owned homes/foreclosures/REOs. Last […]

Quick Phoenix Real Estate Inventory Update

We’ll run through the January numbers on Monday but a couple of quick notes on the inventory … As of the moment, we’re at 11,092 single-family detached homes here in Maricopa County. That’s essentially the same number we’ve seen for the past couple of months, give or take a couple hundred. Also of interest, according to the folks at Ultimate New Homes, spec home inventory – new builds in some state of completion, ranging from framing to move in tomorrow, has risen by 40 percent or so to 978 units from 600 six months ago. Many spec homes come as […]

Phoenix Metro Real Estate By the Numbers – December 2012

Nothing like some numbers dry as milquetoast on a Saturday morning. Here’s how December shaped up in the Phoenix real estate market: 5,210 single family detached homes sold in Maricopa County, a roughly 10 percent drop from the 5,700 and change sold in December 2011. 493 of the 5,210 were bank owned properties 123 were HUD homes 1,407 were short sales The remaining 3,000 and change were traditional sales – not distressed sales For the full year: 66,530 single family detached homes sold in the Phoenix real estate market, excluding Pinal County (Maricopa, Queen Creek, San Tan Valley) Last year, […]

Quick Phoenix Real Estate Inventory Check

Not surprisingly, inventory has fallen off slightly over the past two weeks – only a raving lunatic would put their home on the market in the week before Christmas – so we’re down to 10,979 single family detached homes in Maricopa County as of the moment. Barring another drop in the prices, the sub-$50k housing market is long ago and far away, which is about where it belongs. It’s hard for anyone to argue that it made sense for homes in certain parts of the West Valley to sell for the same price now (or a year or so ago, […]

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