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May 2018 RE/MAX National Housing Report

by The Russo Team

May 2018 RE/MAX National Housing Report

Have you heard? Homes sold faster in May than at virtually any other time in the past decade, according to the latest RE/MAX National Housing Report. Low inventory and high demand in May cut Days on Market to 46, the second-lowest monthly number in the nearly 10-year history of the report.

May home sales topped April sales by 14.5 percent, and were down by 2.8 percent from May 2017. The median sales price of $251,673 was up 7.8%. To access the housing report infographic, visit: https://rem.ax/2phKHWT.  By comparison, homes averaged five more days on the market (51) in May 2017, 12 more days (58) in May 2016 and 18 more days (64) in 2015.

“Even with low inventory and the Federal Reserve raising interest rates, homes are going from ‘for sale’ to sold 28 percent faster than three years ago,” said RE/MAX CEO Adam Contos.

With eleven metro areas increasing the median sales price year-over-year by double digits, May is still a seller’s market, and homebuyers should expect to compete with other buyers when they are ready to make an offer on a home.

“Be prepared — that’s my message to potential homebuyers in this summer selling season,” added Contos. “Make sure you are pre-approved with a lender, try to make a clean offer with no contingencies and, if possible, consider offering favorable concessions to the seller such as a flexible closing date. Pairing today’s real estate technology with the guidance of a professional RE/MAX agent, can help you find the right home.”

 The average Days on Market for homes sold in May 2018 was 46, down six days from the average in April 2018, and down five days from the May 2017 average. The number of homes for sale in May 2018 was up 4 percent from April 2018, and down 9.5 percent from May 2017.

Based on the rate of home sales in May, the Months Supply of Inventory remained unchanged from April 2018 at 2.5, and slightly decreased compared to 2.6 in May 2017. A 6.0-months supply indicates a market balanced equally between buyers and sellers. In May 2018, all 54 metro areas surveyed reported a months supply at or less than 6.0, which is typically considered a seller’s market. For more information or to download a copy of the  May 2018 National Housing Report click here.

Looking to sell your Phoenix home or buy a home in Phoenix this summer? Contact The Russo Team today and receive a complimentary analysis of your home’s approximate present value on the market today. Your complete satisfaction with our service and representation is always our number one priority! – Frank

Frank Russo

Russo Team

RE/MAX Professionals

www.RussoTeam.com

602-864-1200

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Home Sales Defy Seasonal Trend December National Housing Report

by The Russo Team

Home Sales Defy Seasonal Trend: December National Housing Report

Last month saw more homes sold than any other November in the eight-year history of the National Housing Report from RE/MAX. All but one of the fifty-three markets surveyed posted an increase in sales over November 2015, with nearly half of the markets at least 20 percent higher. Despite the typical winter slowdown, November home sales finished 19.1 percent above a year ago and prices increased 1.4 percent over October.

The continued decline of inventory and talk of rising interest rates may have contributed to November’s surge of home sales,” said Dave Liniger, RE/MAX CEO, Chairman of the Board and Co-Founder. Over the past 11 months, the majority of markets have seen home prices return to their pre-recession levels, reaffirming that 2016 has been the best year for the housing market since the recession.”

Are you thinking of making a move in 2017 but not sure what your home is worth? Give us a call today. We will help you successfully navigate the home selling process. We look forward to hearing from you soon – Frank

Frank Russo
The Russo Team
RE/MAX Professionals
www.RussoTeam.com
602-864-1200

RE/MAX National Housing Report for November

by The Russo Team

RE/MAX National Housing Report for November

According to the RE/MAX National Housing Report for November, Phoenix, Arizona saw a +12.2% increase in property values! Despite a slight decrease in the number of transactions, this October is the second best in the history of the National Housing Report.

“Although October sales weren’t quite as robust as what we've tracked so far in 2016, it's only the second month this year that didn’t exceed the strong levels set in 2015. But finishing just 1 percent below October 2015 sales is still a very solid performance,” said Dave Liniger, RE/MAX CEO, Chairman of the Board and Co-Founder. “It’s the 13th consecutive month of double-digit decline in inventory year-over-year, and that appears to have pushed prices up in all but one market.”

If you are considering a move in 2017, but not sure if now is a good time please give us a call today. We can help you determine the value of your home, and create a plan that will meet your real estate goals. We look forward to hearing from you soon.

Frank Russo
The Russo Team
RE/MAX Professionals
www.RussoTeam.com
602-864-1200

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National Housing Report for October 2016

by The Russo Team

National Housing Report for October 2016 

The National Housing Report for October 2016 indicates that the September Median Sales Price of $219,780 was 5.1 percent above a year ago. And in a rare occurrence, not a single metro posted a year-over-year price drop. The average Month’s Supply of Inventory rose from 3.4 in August to 3.9, the highest since February.

“The market usually sees fewer home sales in September, as buyers make a seasonal transition from summer to fall,” said Dave Liniger, RE/MAX CEO, Chairman of the Board and Co-Founder. “Even so, sales were the highest of any September since we launched our Housing Report in 2008. Also, price increases continue to be in the moderate 5-percent year-over-year range. Overall, this is a market that most everyone can be satisfied with.”


If you would like to read the full National Housing Report for October 2016, please click here. The inventory of available homes for sale, still far below the six month’s supply considered to be a market balanced equally between buyers and sellers. Now is a great time to consider selling your home! Give us a call today – Frank

Frank Russo
The Russo Team
RE/MAX Professionals
www.RussoTeam.com
602-864-1200

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RE/MAX National Housing Report September 2016

by The Russo Team

RE/MAX National Housing Report September 2016


According to the September National Housing Report from RE/MAX we have seen a continued positive trend in the housing market with sales up in August, and prices steady.

“August’s nearly 6 percent sales increase over last year is providing a strong finish for the summer home selling and buying season. While July saw a decline, August built upon the trends in the spring and early summer. Coupled with moderating price increases, the sales growth we’re seeing represents a market that’s very sustainable," said Dave Liniger, RE/MAX CEO, Chairman of the Board and Co-Founder. 

August home sales increased 5.8 percent over a year ago, reversing July’s decline of 8.8 percent. At the same time, the median price climbed 5.1 percent as steady monthly increases continued. August sales were up year-over-year in 41 of the 53 U.S. metro areas analyzed in the RE/MAX National Housing Report. Twelve metro areas posted double-digit increases, including major markets along the east coast from Washington, DC to Charlotte, NC. So far in 2016, seven of the eight months have seen year-over-year sales increases nationally.

If you are thinking of making a move, but not sure what your home is worth, give us a call today. We will provide you with an informative look at what your home is worth – free of charge. Frank

Frank Russo
The Russo Team
RE/MAX Professionals
www.RussoTeam.com
602-864-1200

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August National Housing Report from RE/MAX

by The Russo Team

August National Housing Report from RE/MAX 

Do you know what your home is worth? According to the August National Housing Report from RE/MAX we have seen inventory tighten, while property values level off.  In the RE/MAX National Housing Report analysis of 53 U.S. cities, July sales fell in 49 markets by 8.8% from July 2015 and by 13.1% from June. The Median Sales Price dropped slightly from June to $225,000, which is still 4.7% higher than one year ago.

At the same time, inventory continued to tighten by dropping 3.0% lower than June and 16.6% lower than a year ago, resulting in a Months Supply of just 3.5. Five metro areas reported an inventory supply of less than two months. Meanwhile, the average Days on Market dropped to 53 which is just one day less than the average in June and four days below last year.

“After a June jump in home sales, it's quite common to see July sales make a correction. This is a summertime pattern that we often see on a national level. Of course, one month doesn't make a trend and we still have a couple more months ahead in the traditional home-buying season. At the same time, it's important to note that, on a year-over-year basis, prices are rising at a moderate rate that's very much in line with historical averages," said Dave Liniger, RE/MAX CEO, Chairman of the Board and Co-Founder. 

To read the full August National Housing Report from RE/MAX click here. Are you considering a move? To find out what your Arizona home values are, email the Russo Team today. Frank

Frank Russo
The Russo Team
RE/MAX Professionals

www.RussoTeam.com
602-864-1200

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December 2015 Real Estate Market Update

by The Russo Team

Curious about what happened in the December 2015 real estate market in the Phoenix metro area? Check out our video below!

RE/MAX “Month of Miracles”

by The Russo Team

RE/MAX “Month of Miracles” 

August marks the annual “Month of Miracles” for RE/MAX agents. As we celebrate our partnership with the Children’s Miracle Network, I would like to invite you to participate.

Children’s Miracle Network and the local Phoenix Children’s Hospital are very near and dear to my heart. When my daughter was born premature, she spent the first few weeks of her life in the care of the highly skilled medical team at PCH.

Over the years, RE/MAX agents across the United States have raised $130 million for the Children’s Miracle Network. The money we raise here in the Valley of the Sun goes directly to our local hospital. I am so proud to be a part of an organization that recognizes the need to bring awareness to the medical care of children today.

For every commission earned on the Russo Team, we make a donation to PCH in your name. During the “Month of Miracles” look for the sign – you can join us in our efforts to support CMN and PCH by purchasing a “Miracle Home.” If you are in the market to sell, your home will automatically be a “Miracle Home” if you list with the Russo Team.

Thank you for your support. Frank

www.RussoTeam.com
602-864-1200

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National Surveys Show RE/MAX Is Number One Among Consumers Choice

by The Russo Team

National Surveys Show RE/MAX is Number One Among Consumers Choice

The 2013 results are in for the top national real estate reports – RISMedia Power Broker Report, the REAL Trends 500 and the “Top Thousand for 2013” – RE/MAX agents continue to outperform the competition, and remain number one among consumers choice. 

People across the globe trust RE/MAX agents to help them with their biggest financial decision and they trust us to get the job done. The Russo Team is no exception to this popular belief. We have been serving Valley home buyers and sellers for over thirty years. We have the experience and local knowledge to help you fulfill your real estate goals.

If you or someone you know is considering a move, give us a call today! Frank

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RE/MAX CEO Margaret Kelly on FOX News

by The Russo Team

RE/MAX CEO Margaret Kelly on FOX News

RE/MAX CEO Margaret Kelly spoke to FOX Business News on Friday, May 10th about the recovering U.S. real estate market. The low inventory is impacting home prices, but as Margaret Kelly shares, this is good news for homeowners. 

The increase in property values is especially good news for underwater homeowners. Due to rising home values, 2.7 million homeowners who were  previously underwater, are now in a positive position.

If you or someone you know is interested in learning more about property values in our Phoenix market, please give the Russo Team a call today.

www.RussoTeam.com
602-864-1200

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The Russo Team
RE/MAX Professionals
7111 West Bell Rd. Ste 101
Glendale AZ 85308
602-864-1200
602-739-2727
Fax: 623-643-1008

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