Supply – a “Tale of Two Cities”
Supply continues to be the story in the valley (or lack thereof). But it really is a tale of two cities – if the cities were price points – the 200K range vs. all other price ranges. Single family homes under 200K seem to be the wooly mammoth quickly headed for extinction. Understandably entry level…
Welcome to 2018
We hope you all had a wonderful holiday season! Now that we are off to a fresh new year it makes sense to note where the market currently stands. Supply Undoubtedly our serial readers are already well aware that the 500K and under range has been in a “sellers” market for all of 2017. What…
2017 Draws to a Close
Is it just us, or has 2017 seemed to fly by? As 2017 heads to a close, inevitably we reflect and compare this year to the previous year. Although the final tallies are not in, we still can draw some solid comparisons. PRICING Most homeowners and would-be homeowners (buyers) find pricing statistics the most interesting…
Struggling to Recognize a Normal Market?
For those who prefer an article in a Twitter-like format – supply is still constrained, demand appears to be slowing (is this seasonal or an actual decrease?) and we are in the midst of a very “normal†market. For those who prefer details, continue on. The problem with a “normal†market is that the Valley…
Supply remains low. Will demand follow?
Low supply has stubbornly remained the major theme of the housing market for the last three years. In fact active counts of homes for sale were lower in only 4 years (2004, 2005, 2012, & 2013). In 2004 & 2005 “the bubble†was underway with heady demand voraciously consuming inventory. In 2012 & 2013, buyer…
How To Get Less Money When You Sell Your House
Every day we field calls from sellers checking on what they can do to their home to increase the home’s value prior to sale. These questions center around improvements such as solar (we don’t recommend) painting (yes!) flooring and so on. Yet one of the biggest forfeitures of value is “to whom†and “how†we…
Mid-Year Market Update
As 2017 reaches the halfway mark – the trends have solidified. Not surprisingly, supply continues to be constrained under 300K. Most severely constrained is supply under 200K – in Maricopa & Pinal counties it is down a whopping 34% from this time last year. Appreciation is remaining strong. Demand has only recently showed a slight…
There is NO Bubble Here!
Recently, a very sweet client who is an avid reader of our newspaper (thank you for both being a client and reader) wondered if we would be doing an article soon about preparing your home for sale. I told her that would-be buyers and sellers are so concerned about the state of the market, that…
The Trends Continue
Supply continues to be the story in our market. But like most blanket statements – “supply is down†– the real picture is always a bit more nuanced. Supply, like demand, behaves differently depending on the price points. Looking at a broad market overview, active listings counts are down. When active listings decline in the…