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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RE/MAX National Housing Report for August 2018

Home Sales Decline 1% as Inventory, Prices Level Out

 

The RE/MAX National Housing Report for August 2018 shows increasing home prices, low inventory and a reduction in days on market. These combined factors made August 2018 the sixth time this year that home sales lagged behind last year’s pace—but only slightly at -1.1%. To access the housing report infographic, visit: https://rem.ax/2phKHWT

 

Home prices rose by 3.7% over August 2017, much lower than the year-over-year price increase of 5.4% from August 2016 to August 2017. In fact, the past three months of 2018 have trailed 2017’s rate of price growth year-over-year—compare that to four of the first five months of 2018 when year-over-year price increases easily topped those posted in 2017.

 

The Median Sales Price of $248,500 marked the 29th consecutive month of year-over-year price increases.

 

Even though active inventory dropped for the 118th consecutive month, the decline of 5.4% from August 2017 marked the smallest year-over-year decrease since August 2014. In addition, the August 2018 inventory drop marked the fourth consecutive month in 2018 to post single-digit percent declines, rather than the double-digit monthly drops consistently seen in early 2018 and over the previous three years.

 

“It varies by market, but we’re hearing that buyers are being more selective and sellers are becoming more pragmatic,” said RE/MAX CEO Adam Contos. “That dynamic could bring inventory levels up, especially in the most overheated markets, where we expect to see the clearest signs of equilibrium returning. The economy is strong and potential buyers are out there—they just need more listings, at the right price points, to consider. We believe that balance will return, which will be good for everyone in the long run. It’s just a matter of when.” 

 

Contos added that although the lack of inventory continues to be a challenge, the trends suggest that the market finally appears to be rebalancing. “The moderation we are experiencing seems to be a bit more than the normal seasonal lull we’d expect this time of year,” said Contos.

 

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 Flagstaff Realtors Earn NAR’s Military Relocation Professional Certification!

 

annette and demi

Annette Gardinal & Demi Bentley with RE/MAX Flagstaff have been awarded the nationally recognized Military Relocation Professional Certification. The National Association of Realtors® awards the MRP certification to Realtors® who help military personnel, veterans and their families find housing that lets them make the best use of their benefits and serves the unique needs of military life.

When military staff and their families relocate, the services of a real estate professional who understands their needs and timetables can make the transfer easier, faster and less stressful. Realtors® who earn this certification know to work with active duty military buyers and sellers, as well as veterans.

“Service members may only have a couple of days to view properties and make an offer, and others might be deployed at the time and need someone who can represent them while they’re away. Working with a Realtor® who understands the singular complications that arise with military service can help make the home buying process simpler, faster and less stressful,” said National Association of Realtors® President Tom Salomone, broker-owner of Real Estate II Inc. in Coral Springs, Florida. “The MRP certification lets home buyers and sellers know that a Realtor® knows the ins and outs of military housing benefits, such as zero-down payment loans, and the specific needs service members and veterans have when searching for their new home.”

The certification provides NAR’s members with resources to accommodate current and former military service members at any stage of their military career and is an approved elective for NAR’s Accredited Buyers Representative designation. To earn the MRP certification, Realtors must be in good standing with NAR; complete the MRP Certification Core Course; complete a reading providing background information on the military, included acronyms and understanding military culture; and complete two webinars.

For more information about the MRP certification, visit www.militaryrelocationpro.org

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 June 2018 National Housing Report

Halfway through 2018, prices are at record highs, inventory is at record lows and home sales are trailing 2017’s pace, according to the RE/MAX National Housing Report.

June sales were 5.5% lower than June 2017 in the 54 metro areas surveyed, marking the seventh consecutive month of year-over-year declines.

Headed in the opposite direction, the June Median Sales Price of $258,500 was an all-time high in the nine-year history of the report. It was 5.1% higher than the $245,000 recorded last June, bringing the consecutive months of year-over-year price increases to 27. In each of the previous five years – going back to June 2013’s $193,750 – June has posted the highest Median Sales Price of the year.

“Year-over-year prices have been climbing for more than two years now, which is great news for homeowners and sellers,” said RE/MAX CEO Adam Contos. “In the hottest markets, demand is especially high because there simply aren’t that many homes for sale. The slower sales figures we’re seeing are tied to inventory more than anything else.”

Forty-two of the 54 metro areas reported a year-over-year drop in inventory. That years-long trend is reflected in Months Supply of Inventory dropping to 2.7 – down 8.8% year-over-year and the smallest figure ever recorded for June. Fewer houses for sale generally results in a faster process: Homes sold in June averaged just 42 Days on Market – five days less than June 2017 and three days under the previous nine-year low of 45 days (July 2017).

“Lack of inventory has become a theme for the year,” Contos said. “Having fewer homes to choose from poses a challenge for buyers, who need to be ready to act decisively and quickly. Working with a full-time, professional RE/MAX agent can prepare them for that.”

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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Team Gardinal Ranked in REAL Trends 2018 “America’s Best Real Estate Professionals”

Annette

 

Annette Gardinal, Team Leader for Team Gardinal, was recently recognized in the 2018 REAL Trends “America’s Best Real Estate Professionals” rankings.

The prestigious survey is divided into four categories: individual agents by sales volume, individuals by transaction sides, agent teams by volume and teams by sides. Team Gardinal placed 257 in the rankings for most transaction sides. This is the third year Team Gardinal has received this ranking. “It’s an honor to be listed among such hardworking and dedicated professionals across the country,” said Annette Gardinal, Broker/Owner of RE/MAX Flagstaff. “The Flagler County housing market has been consistent. That, along with my 18 years of local real estate expertise, allows for the ideal opportunity to provide clients with the highest level of customer service.” Last year proved to be a successful year for Team Gardinal, the team was able to maintain transaction sides even with low inventories.

Team Gardinal was also awarded the Platinum award by RE/MAX, LLC. “Real estate is a very competitive business and we’re proud of our RE/MAX agents and teams for their outstanding professionalism and commitment to raising the bar in real estate,” said RE/MAX CEO Adam Contos. “The real measure of success is customer satisfaction and that’s why year in, year out, homebuyers and sellers turn to RE/MAX to help them with one of life’s biggest investments.”

Nearly one in four agents (22.7 percent) in the REAL Trends 2018 “America’s Best Real Estate Professionals” rankings is a RE/MAX agent – more than any other brand.

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