Finding Non-Filtered Information To Help Meet Your Financial Goals

Posted by on Nov 3, 2017 in Bobs Blog | 0 comments

It seems as if another analysis appears every day, explaining recent trends in housing based on reports from the U.S. Census Bureau and the U.S. Department of Housing and Urban Development or the National Association of Realtors. What is unfortunate about using some of this data is that it derived from sample surveys instead of gathering the raw data – counting the number of homes that actually closed escrow. It also allows columnists to offer their interpretation of the information that was gathered by a process that can be subject to sampling variability or non-sampling errors. This report I send you monthly offers actual information gathered using the information provided by Arizona Regional Multiple Listing Service. It is especially valuable because it reflects the area where your investment properties are located. The following is true, non-filtered information that we can use to strategize together to help meet your financial goals.

In the Metropolitan Phoenix Area, the number of real estate sales decreased 9.7% from August 2017 and was exactly the same compared with September 2016. New inventory is down 2.0% from August, and has also decreased 2.9% from 12 months ago. Total inventory of homes for sale is up 1.7% from the month prior, while year-over-year reflects a decrease of 9.4%. Supply of inventory increased from 2.65 to 2.98 months. The year-over-year median list price was up 3.2%. The average sales price increased 4.1% and the median sales price rose by 5.1%. Pending foreclosures decreased 7.0% from August and were down 26.0% from one year ago. Average Days on Market increased by 1 day compared with the month prior.

Please give me a call if you are interested in purchasing another investment home. We currently have two properties advertised For Rent. We need more inventory to rent. There are good values for sale currently (if you know where to look) which will translate into strong, long term investment properties. Call me!

Now is a great time to own real estate in Phoenix!