RE/MAX National Housing Report for January 2019

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With February almost in the books and the home selling season getting ramped up, here’s how the year kicked off. There are three key takeaways from the January RE/MAX National Housing Report.

1.    January had the most homes on the market in at least ten years
2.    Year-over-year sales dropped 11%
3.    Home sales prices went up 4.6 % from January 2018 averaging $234,000.

You can read the full report here. https://www.remax.com/newsroom/press-releases/remax-national-housing-report-for-january-2019.htm

So, what's this mean for you? These numbers suggest that if you’re thinking about buying a new home, you have more options than you’ve had in the last few years. Sellers, you don’t have to worry, with rising prices, there’s still plenty of opportunity for you.

If you have plans for selling this spring or summer, it’s time to start planning. We’d be happy to talk about your situation and our local market.

At RE/MAX Flagstaff, our dedicated REALTORS® are driven to serve you and are committed to success. Please let us know how we can assist you with your real estate needs. Call us at (386) 246-8585.

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RE/MAX National Housing Report for December 2018

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2018 Home Sales Cool Off, While Inventory Recovers and Price Increases Moderate

 

The latest housing market news is out from the RE/MAX National Housing Report. 

 

Here are three takeaways from December’s report:

 

1.) December home sales declined 12.1%. That marks the fifth month in a row of year-over-year decline.

 

2.) December inventory grew 4.6% which was the third consecutive month.

 

3.) Home prices went up 2.1% in December.

 

These stats mean that the market is slowly balancing. There’s still a way to go, but it’s making progress. Down the road, this will be great news for buyers and sellers. If you’re thinking about buying or selling in 2019, We’d be happy to talk about our local market conditions and your specific situation. 

 

At RE/MAX Flagstaff, our dedicated REALTORS® are driven to serve you and are committed to success. Please let us know how we can assist you with your real estate needs. Call us at (386) 246-8585. 

 

If you’d like to read the full report, click here

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RE/MAX National Housing Report for November 2018

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Extremely Low Inventory Improves as Sales Drop for Fourth Month

 

Years of shrinking inventory gave way in November to a second consecutive month of year-over-year growth in the number of homes for sale, according to the RE/MAX National Housing Report. The apparent reason: Home sales declined for the fourth consecutive month when compared to the same months in 2017. Even so, home prices remained strong.


Across the 53 metro areas surveyed, inventory rose 3.0% – the highest monthly year-over-year gain in the 10-year history of the report, following October’s 1.0% increase that ended a streak of 119 months of year-over-year declines dating back to November 2008. The Months Supply of Inventory rose to 3.9, the highest for any month since 4.2 in December 2016.

November home sales, meanwhile, declined 6.9%, which was the second-largest year-over-year decline of 2018 and the biggest year-over-year sales decline for November in five years. This year only April and July sales exceeded 2017 totals for the corresponding months.

“The road to market normalization can be bumpy,” said RE/MAX CEO Adam Contos. “It’s good to see the small uptick in inventory, and the drop in November sales isn’t too surprising – given the recent trends, the mid-term elections, and the earlier-than-usual Thanksgiving holiday. As we near year-end, three main themes appear clear – buyers are grappling with affordability issues and tight inventory; sellers are unsure how to react to the cooling market; and homes priced properly are still selling rather quickly. All three underscore the fact that the guidance of a professional agent is even more critical in times like these.”

November’s Median Sales Price of $235,000 was 4.0% higher than November 2017 and was the highest November price in the report’s history. It marked the 32nd consecutive month of yearover-year price increases. Comparing the first 11 months of 2018 to 2017, home prices are up 6.0%.

Even with declining sales, homes sold at record speed for November. Homes spent an average of 51 Days on Market, compared to the previous November low of 54 days set last year.

At RE/MAX Flagstaff, our dedicated REALTORS® are driven to serve you and are committed to success. Please let us know how we can assist you with your real estate needs. Call us at (386) 246-8585. 

 

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RE/MAX National Housing Report for October 2018

Inventory is up. Sales decline. Could the market be balancing?

 

I hope your holiday season is off to a great start and full of laughter and fun. Those of you wishing for a more balanced housing market might be slowly getting what you’re looking for according to the RE/MAX National Housing Report.

 

Here are three key takeaways from this month’s report:

 

1.) Year-Over-Year home sales dropped 4.6% in October - that’s the third month in a row.

2.) Inventory increased for the first time in a decade according to the housing report.

3.) Sales prices in October were one of the lowest increases in 2018.

 

You can read the full report here.

 

All of this points to better news for buyers this holiday season as the “market moves towards equilibrium” according to Adam Contos, CEO of RE/MAX. If you have a moved planned for the holiday season or want to start preparing for a move in 2019, I’d be happy to meet with you to talk about what you can do now to help begin the process.

 

At RE/MAX Flagstaff, our dedicated REALTORS® are driven to serve you and are committed to success. Please let us know how we can assist you with your real estate needs. Call us at (386) 246-8585. 

 

I hope you have a wonderful holiday season. Jimmy Millhollin

 

 

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RE/MAX National Housing Report for September 2018

Like the falling leaves of trees, September saw a tumble in year-over-year home sales according to the RE/MAX National Housing Report.

Here are three key takeaways from September’s Report.


1.) September sales dropped 11.6% year-over-year.
2.) Median sale prices rose to $241,000. That’s an increase for the 30th month in a row.
3.) Active inventory dropped 4.7% from September 2017. That’s the 119th month in a row to see fewer homes on the market.

The drop in sales drop does suggest that the market is rebalancing as buyers and sellers are processing higher interest rates. Prices are still high most likely because of the lack of homes that are on the market.  

Of course, these numbers represent a national sample. If you’re thinking about a transition or just interested in finding out what all of this means for the value of your property,  I’d be happy to talk to you about our local market.

 

At RE/MAX Flagstaff, our dedicated REALTORS® are driven to serve you and are committed to success. Please let us know how we can assist you with your real estate needs. Call us at (386) 246-8585. 

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