Phoenix Housing Market: How 2013 Compares to Years Past

The Phoenix Housing Market just completed calendar year 2013. That means it's time stack rank 2013 against the other years of this millennium.

First, let's set some ground rules based on the Arizona Regional MLS. Our MLS has made vendor and technology changes over the years. For the purposes of this article that means data for the Phoenix Housing Market can only be tracked back to the year 2000. I wasn't manually tracking data in the 1990's so we have 13 years to rank.
Phoenix Housing Market: Number of Sales
2013 came in 7th for overall number of sales. It's no surprise that 2005 was the

Phoenix Housing Market

Phoenix Housing Market Report December 2013

The Phoenix Housing Market continues to teeter on the edge of a buyers market. Inventory and foreclosure levels are virtually normal but demand is down. There's no clear indication which way things may turn. On one hand there is a new lending program to help people without a savings account and on the other hand there's still concern from the general population about the direction of governmental policies.

The Cromford Market Index (*see explanation below) is at 96.4 to begin January 2014, up from 95.8 in the beginning of December. So let's take a look at the numbers in the Phoenix Housing

Phoenix Housing Market

Near Zero Down Mortgage Available Through National Housing Fund

Zero Down Mortgages are a blessing for people with good income but without a savings account. If that sounds like you this may be your year to buy a home.

If you are a veteran of the U.S. Armed Forces you already have access to a zero down mortgage program through the Veterans Administration. If you are not a vet there is a new program following FHA guidelines with funds available through the National Housing Fund (a non-profit company) that is now available to you.

Though technically not a zero down mortgage it's almost as good because you need only 1/2 percent down payment. That means

Zero down mortgage

Metro Phoenix MLS Listings Stop Increasing

The Metro Phoenix MLS logged its 1st drop in active listings since June of 2013. The recently broken string of 6 consecutive increases in the Phoenix MLS began with 15,718 active listings in June 2013. At that time we were in a seller's market. After 6 months of increases the active listing count reached 24,063 in the Phoenix MLS. That's just short of the 25,000 listings that was customary in the normal market we experienced in the late 1990's and early 2000's.

At the height of foreclosure crisis the Metro Phoenix MLS had just under 55,000 active listings and we were clearly in a

Phoenix MLS

Phoenix Housing Market Tracker: November 2013 Home Sales Report

Last month we reported the Phoenix Housing Market had become stable and was on the edge of reverting back to a buyers market. Follow the link to see that detailed report for October 2013. Key indicators show we are still on that path.

Here's a quick summary of the November 2013 Phoenix Housing Market:

5,194 sales, down 885 sales from October 2013 and down 1,652 sales from November 2012. It's also notable this is the lowest sales in any November since 2008.
(History of Phoenix Home Sales)
Price per square foot is $123, or $17 more than last November 2012. The total increase in price

Phoenix Housing Market

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Phoenix Housing Market Results for October 2013: Advantage Buyers?

The Phoenix Housing Market has been anything but stable over the last 7 years. That's all been changing over the last few months. Are we headed back to a buyer's market? Let's have a look at the facts.

Inventory is up, demand is down, and foreclosure type properties have evaporated. Our Phoenix Housing Tracker started keeping statistics about 6 years ago. The combination of factors in today's market creates the closest thing to a stable market we've seen during that time.

Let's begin with inventory in the Phoenix Housing Market. 25,000 active listings was the standard for a balanced

more Phoenix Housing Market

Phoenix Housing Market approaching normal status: Sept 2013

The Phoenix housing market appears to be approaching what we could call a normal and balanced market.

Right now you're probably thinking: "What did he just say?"

Forget what you read in the newspaper and hear from the media about the Phoenix housing market. Instead, consider the following facts:

inventory is over 20,000 properties for the 1st time in 2 years (see Phoenix home listings report)
demand for homes in the Phoenix housing market is cyclically down this time of year with ~ 6,350 sales in September 2013 (see Phoenix Home Sales)
the price per square foot in September

Phoenix Housing Market and Tracker

Phoenix Housing Tracker

PHOENIX HOUSING TRACKER | HOUSING MARKET PHOENIX
Our Phoenix Housing Tracker was last updated on October 7, 2013 for September 2013 "Sold Homes" and October 2013 Active Homes in the MLS and Housing Market Phoenix.

The synopsis: We have the highest inventory in 2 years as the price per square foot continues to climb while the number of sales has declined for the 4th straight month. We could be headed for a stable market as we approach the lowest selling season of the year!



Clicking on this logo takes you to statistics on the Housing Market Phoenix for average price and price

Phoenix Housing Market and Tracker

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