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forecast: The Real Estate Market Continues to Recover - August 2008 - 08/16/08 03:07 AM
By The Numbers
Inventory (supply) down: For the fifth straight month, total inventory has dropped. We are still in the 50,000s and although this is still high, the trend is down.
Sales (demand) up: Closed sales for June are above 6,000 and are double what they were per month during the slump in 2007.
Forecast: Pending sales for August are still around 7,000, so it is safe to conclude that the downward trend will continue.
The absorption rate (time to clear out the current inventory) has dropped to 9 months from over 20 months in 2007.
The last time we saw … (0 comments)
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forecast: The Real Estate Market Continues to Recover - 07/18/08 02:55 PM
By The Numbers
Inventory (supply) down: For the fourth straight month, the total inventory has dropped. We are still in the 50,000's which is high but the trend is down.
Sales (demand) up: Closed sales for June are close to 6000 and double what they were per month during the slump in 2007.
Forecast: pending sales for July are above 7000, so it is safe to conclude that the trend will continue.
The inventory at the current absorption rate (time to clear out the current inventory) has dropped to 9 months from over 20 months in 2007. The last time we … (0 comments)
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forecast: Market Recovery: Are You Ready? - 02/14/08 01:17 PM
Market Recovery: Are You Ready?
After months of doom and gloom, industry-wide panic, and talk of recession, we sure could go for some good news! In one of my recent blogs, I suggested that the market may have bottomed out in October. Housing inventory has not increased since then, and at the end of January, although closed sales were at a 5-year low (partially attributable to the usual holiday slump), the pending contracts to close in February had jumped by 25%.
What do these numbers indicate? They further suggest that we are currently at the bottom of a very shallow trough, … (3 comments)
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forecast: Will the Media Tell Us? - 01/04/08 03:56 PM
Will The Media Tell Us?
For the better part of a year now, the airwaves and front pages have been inundated with apocalyptic predictions for the real estate market. Granted, the market has struggled to stay afloat amidst a flood of foreclosures and a decrease in mortgage accessibility. Yet in many sectors of the real estate industry, improving numbers indicate that the market may be on the upswing. In fact, according to market analysts with RealtyTrac, foreclosures nationwide dropped 10% from October to November of 2007: that's the largest drop in foreclosures since April of 2006 (Source: RealtyTimes).
"But … (6 comments)
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forecast: Market Watch and 7 Real Estate Indicators - 01/04/08 03:52 PM
Market Watch and 7 Real Estate Indicators:
National housing analyst Tim Sullivan of the Sullivan Group has put together a seven-point test to track the market's recovery. We will be following these indicators closely during 2008 to help keep your finger on the pulse of the Market:
1. Supply and Demand ratio needs to drop to a 7 month absorption rate. This is starting to happen. Supply dropped almost 10% between November and December of 2007, from 56,000 to 52,000. The absorption rate dropped from 20 to 15 months valley wide.
2. Home sales need to stop slowing.Resales … (3 comments)
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forecast: Arizona Housing Market Outlook... Not So Dour? - 12/10/07 01:31 PM
There is a silver lining to the "dour" Arizona housing market and economic outlook reported yesterday by the AZ Republic.
I have to put my two cents' worth into the discussion on the Housing Market after a misleading headline appeared on the front page of the AZ Republic 12/6/07.
The headline reads: "Housing market hit harder than analysts predicted".
Last week I attended a seminar given by one of the economists quoted -- Elliot Pollack. I'm sure he wasn't thrilled that his 120-screen powerpoint presentation was boiled down to the following quote: "There is no quick fix. We have a long way … (3 comments)
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Patrick Walsh, Realtor, CNE, Green - Tempe Arizona Real Estate
Tempe,
AZ
More about me…
Keller Williams Arizona Realty
Address: 3920 S Rural Rd Ste 100, Tempe, AZ, 85282
Office Phone: (480) 768-9333
Cell Phone: (602) 369-3224
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