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 Jump 7.5% in October
Pending home sales activity rose month-over-month in each of the four major U.S. regions. On a year-over-year basis, however, transactions were split, as the Northeast and West reported drops and the Midwest and the South posted gains.
- October 2021 Existing-Home Sales Rise Modestly
Housing market activity in October fell 0.8% from September 2021, with existing-home sales reaching a 6.34 million seasonally adjusted annual rate.
- October 2021 Realtors® Confidence Index Report: First-time Buyers Struggle to Compete Against Cash, Investor, and Vacation Home Buyers
First-time buyers continue to struggle to compete with cash and non-primary residence buyers, according to the October 2021 REALTORS® Confidence Index report.
- Existing-Home Sales Inch Up 0.8% in October
Two of the four major U.S. regions saw month-over-month sales climb, one region reported a drop and the fourth area held steady in October. On a year-over-year basis, each region witnessed sales decrease.
