Thomas Davis Group

Market Stats brought to you by The Thomas Davis Group of Re/Max Homes and Investments

Big Question then.... ARE we seeing the (proverbial) "Bottom"??

If so, Do we go UP from here??

Careful - Over the last few years, many have tried look into this crystal ball, but didn't expect what was going to happen, right? So the best answer to the 1^st question is..."Possibly", the 2^nd question is doubtful. On a more certain note - after you see the attached statistics and information, I think you'll see a GREAT picture of where we are!!

There may be unobserved information (higher pending foreclosures, seasonal adjustments, and other affecting conditions) that may affect information presented. The perspective views below are not a representation of fact, but only considered as opinion. Reports are from current, residential MLS information - good through May 31^st, 2009... Also showing continued market trends from 2 years previous. Information recipients are advised to conduct their own proper investigations to decipher and evaluate data.

** Compiled information represents MLS residential properties, located within the local MLS region. Information does not reflect raw land, commercial, or multifamily units.

Following the attached reports, in respective order:

• Median Price of properties ‘Listed', ‘Sold', & ‘New Listings' - This one's first, because the best positive changes from last month.... Our Average Median Price (finally) INCREASED, and it appears the median listing prices are holding higher. It's the Great news we were hoping to see! Click Here to see Chart

• Supply & Demand Listings - Believe it or not, but we surpassed last month as the largest decrease in active listings in over 2 years! Look at the drop in available properties for sale! Click Here to see Chart

• Supply & Demand #of units ‘Under Contract', Sold', & ‘New Listings' - Appears that the gap between the increased number of homes "Under Contract" and the "New Listings" is decreasing. This reduction in inventory may affect the availability in properties "Under Contract". Click Here to see Chart

• Months Supply of Inventory - We're still heading in the right direction with a decreasing supply of inventory. Click Here to see Chart

• Percent of homes ‘Under Contract' - Another unexpected & sizeable increase with the "Percent of homes" under contract"! Look at this pace! Click Here to see Chart

• Basic Absorption of homes ‘Under Contract' (both old & new) & ‘Residual Inventory' - Mostly positive changes with the "Basic Absorption" of homes into our market. ‘Residual Inventory' is decreasing and ‘Under Contract' homes maintaining. Interesting that the number of new listings to the market decreased over the last 2 months. Let's see if that continues over coming months. Click Here to see Chart

• NEW! - Homes for sale VS. for sale the last day of the month - This will helps see changing trends. It compares the month as a whole, to what happened only at the end of the month. Important to look at the difference between - the number of listings for the month VS. at the end of the month. Definitely widening (showing our inventory continues a downward trend).... And at a continually faster pace. Could we actually trend towards an inventory deficit, after all these years of a surplus?? Click Here to see Chart

• Attached is the 1st Quarter 2009 Zip Code Report for Maricopa County. This report is a great snapshot of each ZIP CODE in Maricopa County comparing the 1st Quarter of 2008 to the 1^st Quarter of 2009. Click here to see this chart

Thinking about Buying?? NOW may be the time!!

• NOTE - If you're looking for other MLS perimeters to these statistics (ie. specific area(s), property types, or ‘wider' perimeters), please feel free to contact us. The Thomas Davis Group of Re/Max Homes and Investments 480-248-9175

Market Stats brought to you by The Thomas Davis Group of Re/Max Homes and Investments

Each month we look at the market's Direction, more so than ‘the numbers'. With a new month to follow trends, nearly everything's looking better than expected (despite cautious optimism). We've also found new research to test that direction, ‘reply' if interested in the additional information. That being said... so far, our market is looking GREAT!!!

Beware though!! As always, be sure to gauge these statistics carefully. There may be higher pending foreclosures, seasonal adjustments, and other affecting conditions. Always evaluate conditions from a broader perspective, to see more than what's ‘on the surface'!

The perspective views below are not a representation of fact, but only considered as professional opinion. Reports are from current, residential MLS information - good through April 30^th, 2009... Also showing continued market trends from the last 2 years.

** Compiled information represents MLS residential properties, located within the local MLS region. Information does not reflect raw land, commercial, or multifamily units.

Following the attached reports, in respective order:

• Supply & Demand Listings - Look at the drop in the number of listings!... Before you get too excited, it's being mentioned there's a larger group of foreclosures coming, which can raise this. To see chart Click Here

• Supply & Demand #of units ‘Under Contract', Sold', & ‘New' - Three nice changes....More properties "Sold" & "Under Contract", & the number of "New Listings" falling (as above, with current listings). Direction couldn't be better! To see chart Click Here

• Median Price of properties ‘Listed', ‘Sold', & ‘New Listings' - Although slowing, our "Sold" median home prices are still edging lower, BUT the median of both New & Current prices are Raising! Hopefully, a successful attempt to slow the "Sold" median prices. Interesting - "Average" home prices Maintained the last 2 months, while "Median" prices still decreased (for this comparative data, please ‘reply'). ...Let's see how this affects prices over the next 1-3 months. To See Chart Click Here

• Months Supply of Inventory - Amazing data! In 5 months, our ‘Supply of Inventory" has decreased from 14.7 months (November), to 3.8 months!! (last month) To see Chart Click Here

• Percent of homes ‘Under Contract' - Another unexpected & sizeable increase with the "Percent of homes" under contract"! From 5.7% (November)... now to nearly 19% of homes "under contract"! Great Pace! To see Chart Click Here

• Basic Absorption of homes ‘Under Contract' (both old & new) & ‘Residual Inventory' - Three positive changes with the "Basic Absorption" of homes into our market. "New Listings' & ‘Residual Inventory' are decreasing, AND ‘Under Contract' homes are still on the rise! Perfect! To see Chart Click Here

NOTE - If you're looking for other MLS perimeters to these statistics (ie. specific area(s), property types, or ‘wider' perimeters), please feel free to contact us. The Thomas Davis Group of Re/Max Homes and Investments 480-248-9175

As you all know, right now is a phenomenal time to buy a home. The best benefit out there is for the First-Time Home Buyer. Not only are home prices the most affordable we have seen in the past 13 years, the government is offering an $8000 tax incentive. Here is a quick Q & A to help understand some of the points on this incentive:

Remember also that when purchasing a home through FHA that the minimum required down payment is only 3.5% and FHA will allow the seller to contribute up to 6% of the sale price for closing costs, pre-paids and impounds. So if the buyer is tight on cash 3.5% is much better than a regular conventional 10% down payment. FHA rates are still in the 5 percent range for a 30 year fixed!

As always The Thomas Davis Group would love to work with anyone that is looking to get a great deal in this great Arizona buyers market.

Market Stats brought to you by The Thomas Davis Group of Re/Max Homes and Investments


You're now hearing (via media) about "Our newly-improving real estate market"!...Remember that's information we've been following over the last several months! Public media information about our real estate market often lags 1-2 months after this data!

Our local data cautiously continues to improve!... But always cautiously gauge statistics for seasonal adjustments, affecting economic (& political) changes, and monthly trends, to see more than what's 'on the surface'!

The perspective views below are not a representation of fact, but only considered as professional opinion. Reports are from current, residential MLS information - good through March 31st, 2009... Also showing continued market trends from the last 2 years.
** Compiled information represents MLS residential properties, located within the local MLS region. Information does not reflect raw land, commercial, or multifamily units.


Following the attached reports, in respective order:

Supply & Demand Listings- Another slight decrease in our listings this month. Note - After this, look at the following statistic, which might appear to contradict... See also the possible explanations to follow. Click Here to see Chart

Supply & Demand #of units 'Under Contract', Sold', & 'New' -Again, continuing positive trends!.. Except that "New" listings (vs. overall) increased slightly (see previous). Note - The temporary government-requested moratorium on foreclosures (and some banks continuing to postpone foreclosures) are likely affecting this data. These may make it somewhat "Superficial" regarding what's coming in, and what's going out of our market. This intervention will likely affect data over the coming months as well, for good or bad. Click Here to see Chart

Median Price of properties 'Listed', 'Sold', & 'New Listings'- Continuing slightly downward with our median prices still L... Another negative - the median "New" listing prices have not 'held' (as seasoned listings overall). The "New" listings have slightly declined. This could possibly mean that the older listings are not be reducing prices fast enough to keep up with actual "Sold" price declines. Click Here to see Chart

Months Supply of Inventory -Here's a GREAT piece of data, showing our continued decline in 'Month's Supply of Inventory'! Likely also somewhat superficial, but dramatic enough to hope this is a continuing future trend! Regardless, our 'Month's Supply of Inventory" has decreased from over 1 year in November - to just under 5 months in March! Click Here to see chart

Percent of homes 'Under Contract' -Another amazing increase from last month! From about 5% - up to 15% "under contract" in the last 4 months! Click Here to see Chart

Basic Absorption of homes 'Under Contract' (both old & new) & 'Residual Inventory' - 'Residual Inventory' is decreasing, and 'Under Contract' homes are increasing! 'New' listings are reflecting from data from the 2nd chart above. The number of listings appearing to be volatile. Click Here to see Chart

NOTE - If you're looking for other MLS perimeters to these statistics (ie. specific area(s), property types, or 'wider' perimeters), please feel free to contact us. The Thomas Davis Group of Re/Max Homes and Investments 480-248-9175

Market Stats brought to you by The Thomas Davis Group of Re/Max Homes and Investments

The economy still struggles, but we're still looking at VERY positive statistics to our local real estate market! The numbers continue to improve the last few months. Always cautiously gauge statistics for seasonal adjustments, affecting economic (& political) changes, and monthly trends to see more than what's ‘on the surface'!

The perspective views below are not a representation of fact, but only considered as professional opinion. Reports are from current, residential MLS information - good through February 28^th, 2009... Also showing continued market trends from the last 2 years.

** Compiled information represents MLS residential properties, located within the local MLS region. Information does not reflect raw land, commercial, or multifamily units.

Following the attached reports, in respective order:

• Supply & Demand Listings - Dramatic! Look at the decrease this last month. Note - Keep in mind that in February, some financial institutions agreed to postpone foreclosures (less than 30 days), thus fewer new REOs to the market... Keep that & other data in mind when looking at statistics that are potentially affected.

Click Here for Chart

• Supply & Demand #of units ‘Under Contract', Sold', & ‘New' - Again, all great trends! Both ‘Under Contract' and ‘Sold' properties have substantially increasing, while "New' listings to the market decreased. Somewhat seasonal adjustments, but at much higher percentage increases than in previous years.

Click Here for Chart

• Median Price of properties ‘Listed', ‘Sold', & ‘New Listings' - As mentioned last month, the median ‘Sold' price continues to decline, but both current "Listed' & ‘New' listings to the market have been trying to hold a higher. Can the defiance of the listing prices slow the drop in median ‘Sold' prices?? Could be? Note that the percentage of decrease in ‘Sold' prices is less than in previous months.

Click Here for Chart

• Months Supply of Inventory - A 220% decrease in the average ‘Month's Supply of Inventory' over the last 4 months! Coupled with the decreasing number of listings (see previous), the management & sale of our oversupply of inventory continues to improve!

Click Here for Chart

• Percent of homes ‘Under Contract' - Again, a 200% positive increase in the percentage of homes that are ‘Under Contract' since last November! Although slightly seasonal, previous year's increases haven't been to this scale!

Click Here for Chart

• Basic Absorption of homes ‘Under Contract' (both old & new) & ‘Residual Inventory' - Another great trend. ‘Residual Inventory' and ‘New' listings are decreasing, while properties ‘Under Contract' continue to increase... Just what we want to see!!

Click Here for Chart

NOTE - If you're looking for other MLS perimeters to these statistics (ie. specific area(s), property types, or ‘wider' perimeters), please feel free to contact us. The Thomas Davis Group of Re/Max Homes and Investments 480-248-9175