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Phoenix Real Estate in June: Sales up 6%, Inventory down 10% YoY

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Phoenix Real Estate in June: Sales up 6%, Inventory down 10% YoY

This is a key housing market to follow since Phoenix saw a large bubble / bust followed by strong investor buying. The Arizona Regional Multiple Listing Service (ARMLS) reports (table below): 1) Overall sales in June were up 6.5% year-over-year. 2) Active inventory is now down 10.2% year-over-year.  More inventory (a theme in most of 2014)...
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Real House Prices and Price-to-Rent Ratio in February

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Real House Prices and Price-to-Rent Ratio in February

Here is the earlier post on Case-Shiller: Case-Shiller: National House Price Index increased 5.8% year-over-year in February It has been more than ten years since the bubble peak. In the Case-Shiller release this morning, the seasonally adjusted National Index (SA), was reported as being 2.1% above the previous bubble peak. However, in real terms,...
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Leading Index for Commercial Real Estate Increases in February

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Leading Index for Commercial Real Estate Increases in February

Note: This index is a leading indicator for new non-residential Commercial Real Estate (CRE) investment, except manufacturing. From Dodge Data Analytics: Dodge Momentum Index Increases in February The Dodge Momentum Index rose 1.6% in February to 144.0 (2000=100) from its revised January reading of 141.7. The Momentum Index is a monthly measure of the...
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Las Vegas Real Estate in January: Sales up 13.9% YoY, Inventory down Sharply

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Las Vegas Real Estate in January: Sales up 13.9% YoY, Inventory down Sharply

This is a key distressed market to follow since Las Vegas has seen the largest price decline of any of the Case-Shiller composite 20 cities. The Greater Las Vegas Association of Realtors reported Southern Nevada Home Prices Rise to Start 2017, GLVAR Housing Statistics for January 2017 The Greater Las Vegas Association of REALTORS®...
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Leading Index for Commercial Real Estate “stumbles” in September

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Leading Index for Commercial Real Estate “stumbles” in September

Note: This index is a leading indicator for new non-residential Commercial Real Estate (CRE) investment, except manufacturing. From Dodge Data & Analytics: Dodge Momentum Index Stumbles in September The Dodge Momentum Index fell 4.3% in September to 129.0 from its revised August reading of 134.8 (2000=100). The Momentum Index is a monthly measure of...
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Phoenix Real Estate in December: Sales up 4%, Inventory down 8%

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Phoenix Real Estate in December: Sales up 4%, Inventory down 8%

Wednesday:• At 7:00 AM ET, the Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index. • At 2:00 PM, the Federal Reserve Beige Book, an informal review by the Federal Reserve Banks of current economic conditions in their Districts. • At 2:00 PM, The Monthly Treasury Budget Statement for...
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BEA: Real GDP increased at 2.3% Annualized Rate in Q2

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BEA: Real GDP increased at 2.3% Annualized Rate in Q2

From the BEA: Gross Domestic Product: Second Quarter 2015 (Advance Estimate); Includes Historical Revisions Real gross domestic product — the value of the production of goods and services in the United States, adjusted for price changes — increased at an annual rate of 2.3 percent in the second quarter of 2015, according to the...
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CoStar: Commercial Real Estate prices increased in May

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CoStar: Commercial Real Estate prices increased in May

Here is a price index for commercial real estate that I follow.  From CoStar: Commercial Property Price Indices Spring Forward In May FOLLOWING SLOWDOWN IN APRIL, CRE PRICES REBOUNDED IN MAY WITH STRONG SHOWING ACROSS THE BOARD. The two broadest measures of aggregate pricing for commercial properties within the CCRSI—the value-weighted U.S. Composite Index...
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CoStar: Commercial Real Estate prices declined in April, Up Solidly YoY

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CoStar: Commercial Real Estate prices declined in April, Up Solidly YoY

Friday:• At 8:30 AM ET, the Producer Price Index for May from the BLS. The consensus is for a 0.4% increase in prices, and a 0.1% increase in core PPI. • At 10:00 AM, University of Michigan’s Consumer sentiment index (preliminary for June). The consensus is for a reading of 91.2, up from 90.7...
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A Comment on House Prices: Real Prices and Price-to-Rent Ratio in January

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A Comment on House Prices: Real Prices and Price-to-Rent Ratio in January

The expected slowdown in year-over-year price increases has occurred. In October 2013, the National index was up 10.9% year-over-year (YoY). In January 2015, the index was up 4.5% YoY.  However the YoY change has only declined slightly over the last five months. Looking forward, I expect the YoY increases for the indexes to move...
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