Posts from: Quick Market Minute
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MARKET SUMMARY FOR THE BEGINNING OF NOVEMBERHere are the basics – the ARMLS numbers for November 1, 2020 compared with November 1, 2019 for all areas & types:Active Listings (including homes under contract): 13,901 versus 18,322 last year – down 24.1% – but up…
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A reliable indicator of market strength is the listing success rate. This is currently reading around 89%, and has been at this level since July.The daily chart for all areas and types of homes is attached:89.6% is as high as this indicator has ever been. The long term…
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Cromford Daily Observation~ Many people are worrying about what happens when COVID-related forbearance plans expire. However the Black Knight Mortgage Monitor report released today suggests that the problem is likely to be less severe than might be expected.Some highlights…
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The latest S&P / Case-Shiller® Home Price Index® numbers were published today. They cover home sales during the period May to July 2020.Comparing with the previous month’s series we see the following changes:1. Portland +1.32%2. Cleveland +1.27%3. Los Angeles…
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News Flash! Existing home sales are at the highest level since 2006.Total existing-home sales climbed 10.5% from the year prior in August, according to data released Tuesday by the National Association of Realtors.Existing-home sales — which includes single-family homes,…
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During the summer of 2020, the iBuyers as a group have become far less significant participants in the Greater Phoenix market.August sales were down 78% compared with 2019 while purchases were down 66%. Of the group, OfferPad seems to be most committed to staying in the…
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For this week’s Quick Market Minute, we are sharing two charts for the city of Scottsdale.The first chart is a monthly appreciation chart. It compares the average dollar/sq. ft. in August 2020 with August 2019 in Scottsdale.APPRECIATION BASED ON ANNUAL AVERAGE $/SFThis…
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According to the Phoenix Business Journal:Home Price Index hits new high in June and Phoenix growth is still off the charts.Once again, Phoenix leads the nation in home price growth, with year over year price increases of 9% in June according to the latest S&P CoreLogic…
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For the Quick Market Minute this week, we have a few updates for you:The total number of closed real estate transactions at the end of July 2020 was up 4.7% from July 2019New Home Sales is up 22.9% from July 2019Take a look at the annual appreciation numbers by price…
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The market just hit a new all-time record for dollar volume.At $4.126 billion, the amount closed over the last month exceeds the previous record of $4.085 billion set in June 2019.In fact, the low levels of sales during April, May, and June mean there is now a backlog…
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