Hurricane Harvey and the Seasonal Slow Down in Home Sales

As we all work through and try to process the damage and devastation caused by Hurricane Harvey, it has not taken economists long to calculate and predict how other real estate markets will be affected. In a basic supply and demand model, material and labor are now in greater demand than ten days ago – supply stayed the same...

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2017 Housing Market Has Been Near Record Levels Strong

For the past six months I have been commenting that sales this year have been very strong. As it turns out, this year has been nearing record levels of strong. In the first half of 2017 sales of existing homes were the third highest in the past 17 years of record keeping. Only 2005, the year home prices skyrocketed, and 2011,...

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The Phoenix Market is Continuing its Robust Growth

So much real estate information provided to us comes from sources analyzing national trends in the housing market. While the information is accurate, it frequently does not paint a true picture of local activity in your own neighborhood. Home sales across the country have dropped slightly from March to April and again to May....

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Sales Increase as Sellers Push Value

I follow several local and national economists tracking information that I believe is important to all of us residential real estate investors. What continues to amaze me the level of research and interpretation they provide. For example, there were three fewer business days in April 2017 as compared with the month earlier...

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Will We See An Appreciation in the Phoenix Market in 2017?

I have been reviewing sales numbers by month since January 2014 and a pattern emerged. From February through June, the number of homes listed for sale increased by approximately 20% over the rest of the year; sales started picking up in April or May by about the same percentage. February 2014 saw Sales at 4,797 and new Listings...

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Looking at Annual Statistics I Found Something Very Interesting

Looking at the annual statistics of our real estate market, I found something very interesting: sales in Phoenix kick-off with the Super Bowl. Historically January experiences the softest housing market. With that in mind, the projection for February sales appears to be strong, approximately 4% above February 2015 with...

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