Greater Phoenix Area Real Estate Agent: Monthly Market Update

Greater Phoenix Area Real Estate Agent: Monthly Market Update


– Hi, this is Jason Penrose
with the Penrose team at RE/MAX Excalibur. Thanks for tuning in to Jason Penrose TV. Today we’re talking about the real estate market, April 2019. What the heck happened? Stay tuned; we’re gonna talk about it. (light music) Thanks again for tuning
in to Jason Penrose TV. Today we’re talking about the real estate market here, April 2019. 10,973 homes came on the market this year versus 10,804 last year, a 1.56% increase in new homes coming on the market. We had 21,986 homes available this year versus 18,856 last year, a 16.6% increase in available inventory. This year, we had 9,662 homes sell versus 9,186 last year, a 5.2% increase in homes sold. Last year, we had 2.05 months supply, this year, 2.28 months supply, an 11.2% increase in the
months supply of inventory. So what are we seeing here? We’re seeing a very slight increase in new homes coming on the market. We definitely have a pretty big increase in inventory currently available. Sales went up about 5%. The months supply of inventory
has gone up slightly, but it’s still a seller’s
market as a general whole. That’s going to vary by neighborhood depending on the price point. What is affecting all of this? Really, it’s interest rates. Last year, rates were going up. As you know, the stock market was tanking. I think the S&P dropped almost 20% in the fourth quarter. Between the stock market going down and rates going up, a lot of people just kind of held back and we didn’t have the demand for housing in the fourth quarter that we have now in the first quarter
with rates going down. Rates are lower now in 2019 than they were last year in 2018. That being said, in the last few weeks, rates have gone up a little bit. They’re still lower than last year. If you know anybody who’s thinking about buying a home, or you own a home and you’re thinking about
trading up or trading down, now would be a great time to do it while rates are still low. We know rates are low now. There’s no guarantee that they’ll be low in the future. Give me a call on my cell
phone number any time; 602-738-9943. Make sure to forward this video to your friends and family, anybody you know that might be interested in real estate. I look forward to hearing from you soon. Make it a great day. (light music)

One thought on “Greater Phoenix Area Real Estate Agent: Monthly Market Update

  1. Awesome Video. Keep The Content Coming. Liked Video 🙂

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