RE/MAX National Housing Report November 2018

RE/MAX National Housing Report November 2018

Years of shrinking inventory gave way in November to a second consecutive month of year-over-year growth in the number of homes for sale, according to the RE/MAX National Housing Report. The apparent reason: Home sales declined for the fourth consecutive month when compared to the same months in 2017. Even so, home prices remained strong.

Across the 53 metro areas surveyed, inventory rose 3.0 percent – the highest monthly year-over-year gain in the 10-year history of the report, following October’s 1.0 percent increase that ended a streak of 119 months of year-over-year declines dating back to November 2008. The Months Supply of Inventory rose to 3.9, the highest for any month since 4.2 in December 2016.

November home sales, meanwhile, declined 6.9 percent, which was the second-largest year-over-year decline of 2018 and the biggest year-over-year sales decline for November in five years. This year only April and July sales exceeded 2017 totals for the corresponding months.

“The road to market normalization can be bumpy,” said RE/MAX CEO Adam Contos. “It’s good to see the small uptick in inventory, and the drop in November sales isn’t too surprising – given the recent trends, the mid-term elections, and the earlier-than-usual Thanksgiving holiday. As we near year-end, three main themes appear clear – buyers are grappling with affordability issues and tight inventory; sellers are unsure how to react to the cooling market; and homes priced properly are still selling rather quickly. All three underscore the fact that the guidance of a professional agent is even more critical in times like these.”

November’s Median Sales Price of $235,000 was 4.0 percent higher than November 2017 and was the highest November price in the report’s history. It marked the 32nd consecutive month of year over-year price increases. Comparing the first 11 months of 2018 to 2017, home prices are up 6.0 percent. Even with declining sales, homes sold at record speed for November. Homes spent an average of 51 Days on Market, compared to the previous November low of 54 days set last year.

Click here to download your copy of the RE/MAX National Housing Report for November 2018. If you would like to sell your Phoenix home or find the perfect home for sale in Phoenix, please contact the The Voss Team. We will be happy to provide a free market analysis of your home and are committed to helping you reach your real estate goals on step at a time!

Roberta Voss

The Voss Team

RE/MAX Professionals

20241 N 67th Ave A1

Glendale, AZ 85308

(602)-697-0730

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3 Fresh Kitchen Trends for Spring

3 Fresh Kitchen Trends for Spring

3 Fresh Kitchen Trends for SpringSpring is just around the corner and with it usually comes an urge to refresh the home. Because the kitchen is where most of us spend the most time, it’s only natural that room would be the first place we’d like to update. There’s a reason the kitchen is the heart of the home, and when you see these 3 fresh kitchen trends for spring, you’ll see why!

1.) Open Up: Cupboards are now becoming art statements, as kitchen trends are moving towards open shelving. Now, instead of hiding dishes, glasses, and accessories behind closed cabinetry, designers and homeowners are opting to show off that good china. There’s definitely a rise in manufactures implementing open shelving in their kitchen designs.

2.) Hello Earth: Long gone are the stark white kitchens of yesteryear. This year, we’re seeing an ushering of more natural tones and materials in kitchens. If it comes from the earth, it’s finding its way into kitchens. From walls to counter tops, designers and homeowners are infusing looks that have a more textured, natural feel such as real brick wall veneers and authentic soaring wood beams. This also invites the look of natural wood and stone counter tops and warmer copper accessories in lieu of stainless steel.

3.) Get Out: Since kitchens are trending for more open and natural themes, it’s no surprise that there’d be a rise in creating outdoor kitchens as well. Why not take the party outside? Sure, our hot Phoenix summers can limit the appeal of enjoying an outdoor kitchen, but employing a good fan and mister system with the addition of an ice cold mini bar can allow even the most heat sensitive guests a break. These days, nothing complements a nice patio set or grill more than an outside kitchen to gather family and friends around. Got a pool? An outdoor kitchen with versatile easy to clean finishes is an added bonus.

Which of these 3 fresh kitchen trends for spring would you like to try? If you’re looking for some additional ideas on refreshing your home or if you’re ready to sell or buy a home in the greater Phoenix area, please contact The Voss Team today.

Roberta Voss

The Voss Team

(602)-697-0730

7111 West Bell Road Ste 101

Glendale, Arizona 85308

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Tips to Boost Your Home’s Holiday Curb Appeal

Tips to Boost Your Home’s Holiday Curb Appeal

Tips to Boost Your Homes Holiday Curb AppealSelling your home this holiday season? Liven up the front door and share your holiday spirit with the whole neighborhood this year with these tips to boost your home’s holiday curb appeal.

Holiday Welcome Mats: Celebrate the holiday season in every way possible by adding a cute themed outdoor welcome mat to your landing. There are tons of designs to choose from and it’s guaranteed to bring a smile filled with holiday cheer to any guest that arrives to your door.

Light Lanterns: Lanterns and luminaries are both functional and beautiful either along walkways or on the porch, regardless of the season. Best of all, what you buy now can be used year-round! Choose one of the new non-flame varieties to be safe and go with the glow!

Go With Garland: Garland is an easy way to add some holiday pizazz to your front entry. Use it to wrap around columns, drape over railings, and frame in doorways. You’ll find fresh varieties at your local nursery and garden center. You can also make one yourself if you’re feeling crafty.

Display Gifts: Looking for ways to re-use cardboard boxes that your online purchases have arrived in before tossing them in the recycling bin? Why not wrap them in festive papers or fabrics, decorate with ribbon and bows, and put them on display on your front porch. They’ll add a pop of color to your front entry way and get passerbys in the holiday spirit of giving!

Which of these holiday curb appeal tips will you try? Deck your halls and share a picture of your best curb appeal addition on The Voss Team Facebook Page here. And as always, if you’re looking to buy a Phoenix home this holiday season or sell your Phoenix home, please contact The Voss Team today for a complimentary analysis of your home’s present value. Season’s Greetings!

Roberta Voss

The Voss Team

(602)-697-0730

7111 West Bell Road Ste 101

Glendale, Arizona 85308

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Home Sales Decreased in July, but Sold at Faster Pace

Home Sales Decreased in July, but Sold at Faster Pace

Home Sales Decreased in July, but Sold at Faster PaceHome sales decreased in July, but sold at a faster pace according to the August RE/MAX National Housing Report. In fact, homes sold at a faster rate than any month in nearly a decade. July home sales declined 0.8 percent year-over-year, and the Median Sales Price of $239,950 – while slightly lower than June’s – was 7.4 percent higher year-over-year. Homes sold quickly in July, with an average forty-five Days on Market, a record low for the report.

“After a jump in home sales in May and June, it’s not unusual to see a dip in sales in July,” said Adam Contos, RE/MAX Co-CEO. “This summertime slowdown is a national trend that we sometimes see this time of year, even though this month’s decrease was razor thin. Low inventory continues to constrain the market. Successful buyers will have to be prepped and ready to act fast to purchase listings that, on average, are selling in record time.”

Of the fifty-four metro areas surveyed in July 2017, the overall average number of home sales decreased 15.8 percent compared to June 2017 and 0.8 percent compared to July 2016. In July 2017, the median of all fifty-four metro Median Sales Prices was $239,950, down 1.0 percent from June 2017 but up 7.4 percent from July 2016. The average Days on Market for homes sold in July 2017 was forty-five, down two days from the average in June 2017, and down eight days from the July 2016 average.

Want to know more about the current real estate market? Click here to download your copy of the August 2017 RE/MAX National Housing Report. If you are looking to sell your Phoenix home or are ready to buy a Phoenix home, please contact The Voss Team today!

Roberta Voss

The Voss Team

(602)-697-0730

7111 West Bell Road Ste 101

Glendale, Arizona 85308

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