Fall 2019 – No Sign of Real Estate Bubble in Phoenix Metro
A Quick Look at September Numbers
We love The Cromford Report because it is all about numbers. This chart takes all the numbers for the Metro Phoenix area and compares them to the last month, last quarter, last year and two years ago (all on the same day of the month). By comparing all these figures, it is easier to see the current trends, as well as the big picture.
Not much has really changed! Slow and steady wins the race. There is still no indication of a real estate bubble in our Phoenix Metro real estate market.
Tips to Understand the Charts
- Green arrow indicates strength in the market, relative to the numbers.
- Red arrow indicates weakness in the market, relative to the numbers.
- Yellow dash indicates no change.
Example 1: Active Listings are down from last month, last quarter, last year and two years ago. This is shown as a green arrow down.
Example 2: Pending Listings are down from last month and last quarter indicated by a red arrow down. However, the number is higher than last year and 2 years ago on same date, indicated by a green arrow up.
Example 3: Days Inventory is the same as last month but significantly lower than last quarter, last year and two years ago.
News from NAR - National Association of Realtors
Pending Home Sales Increase 2.4% in February
Each of the four major regions saw an increase in month-over-month contract activity, as well as growth in year-over-year pending home sales transactions compared to one year ago.
Tracking Jobless Claims by State
According to today’s release from the Labor Department, the number of Americans filing claims for unemployment benefits shot to a record of more than 3 million last week
REALTORS® Confidence Index: February 2020 Highlights
This report presents key results about market transactions from the February 2020 REALTORS® Confidence Index survey.
Using Vacant Malls as Coronavirus Health Care Emergency Armories
Shopping centers, both fully vacant and partially vacant, have close proximity to people, and their large footage can handle large cases as mobile hospital units, emergency mask production, storage of basic goods, etc.