Please SUBSCRIBE HERE bit.ly/31kAR73 Looking to buy or sell a house in the US? Get Connected To a GREAT Real Estate Agent Here: homeandmoney.com/jason My Gear I Use for RUclips: www.amazon.com/shop/jason walter Products I use and like: #ad Tubebuddy www.tubebuddy.com/jason808 Virtual Assistants (video editing) bit.ly/3lYRujQ
I have been watching the AZ Real Estate Market very closely. I am one of those highly qualified, 20% down with income no debt ppl waiting on the sideline and I will wait patiently for as long as I need to for these crazy and outrageous housing prices to go down and if they don't I do not care because in my eyes it is better to rent then be stuck in an overpriced box. The well loved homes, manicured yards and decently priced homes are flying off the shelf but all the others are struggling a bit but are eventually being bought. A lot of the nice homes being picked up for a decent price are in horrible neighborhoods which tells me these are out of state buyers. They are obviously not realizing we are having a serious homeless, drug and crime problem here. A beautiful home may be nice until it is broken into or you are driving to your local grocery store and you see homeless all around the neighborhood. Good luck with that especially it you have children.
Thanks for covering Arizona! Some of us are waiting on the sidelines for this insanity to stabilize. It's insane to hear the home value has increased over 50% since 2020 but I'm honestly not surprised. Sticker shock is an understatement, especially in the rural suburbs.
Last week Redfin said 1 in 7 homes sell for a loss. You can always hype up the numbers........A car dealers can sell 4 cars this week and 7 the next that's a 75% increase but if he has 4000 cars in the back lot he's in trouble.
To me the 2020-2022 timeframe was so anomalous that I put little weight to comparisons to them. Seems most of your numbers are reverting to the mean of 2019. Appreciate all of your efforts!
Covid was indeed an aberration. The supply and demand constraints - in everything from home sales to gnipgnops on Amazon - were due to external sources (namely, government restrictions) and not market forces. So it makes sense to sort of pretend the last three years didn’t happen, and return to 2019 for tracking broad market forces.
It's so refreshing to hear you challenge the real estate talk such as the definition of a balanced market. I think any rational person would agree that this is when buyers and sellers are equally advantaged and prices are not changing substantially.
Audio is excellent! Plosives appear to be gone and i’m hearing no bass at all. Not sure if the HPF was applied to this track or if your mic was just pointed funny yesterday, or both, but either way, big up 😎
not really , compared to pre pandemic levels still not that high, And very very low foreclosures till date. In 2008 we had record foreclosures. I am pleasantly surprised with the housing market , its resilient. Who ever bought their homes before 2020 made the best decision of their lives , not so much if you are home buyer since 2021, and esp now,
If you trust surveys, consumer sentiment about the housing market is still pretty dismal. Novice observation in our PHX area neighborhood - people's pride in their home seems be in decline. I'm curious if negative appreciation and/or being "underwater" saps one's desire to maintain their property? Something feels different lately.
If it takes 84 days to sell a House, the pricing is almost always out of touch with reality. If a house shows well and is well priced there is no reason that it should ever take more than 30 days to sell and I would even say that it should sell(be under contract) in 15 days
Also even with inventory over 1 million dollars - they say that it maybe 6-8 months but that “years back it was nearly two years of supply (as if either situation suggests good health )
I live in buckeye and homes are being gobbled up like nobody's business. As soon as you see a house up for sale it is pending in the next couple of days
There are currently 12,166 Homes for Sale on Arizona MLS - ACTIVE homes for sale! This is down (as you showed) about 75% from just a few months ago. Not many homes for sale here in AZ! I show we have 10,034 under contract! We might see less than 10k homes for sale by June if this continues!
I think the expectation of having a 6 month inventory to have a balanced housing market for buyers and sellers is probably not appropriate anymore. This needs to be adjusted, maybe now its only a 3 or 4 month supply. As with many things post pandemic, the way we thought about things before the pandemic has changed and now we need to adjust those expectations and standards for the new markets.
Lot of the Arizona real estate RUclipsrs keep on saying it is a sellers market based on this info and often( if not always ) sidestep the question of the decline of prices
@@vijayanchomatil8413 nah, it’s not California’s fault. Blame the Colorado River Compact of 1922, basing the allocations on abnormally high water levels, and the fact that that was literally a hundred years ago and all seven states involved are DRASTICALLY different. The fact the compact hasn’t been renegotiated in the past century is a failure of politicians from all seven states for decades upon decades of residential and industrial growth. The current Colorado River water crisis was not unforeseen, but it is politically convenient for every one of ‘em in the driver’s seat for generations now to kick the can down the road.
@@JasonWalter1 You choose to pick this narrative... You do realize that since January, home values in Arizona have increased by 5%....? Why dont you report that? Its like you purposely try to mislead people and I get tired of this fake news. You know better but choose to pursue this path.
Please SUBSCRIBE HERE bit.ly/31kAR73
Looking to buy or sell a house in the US? Get Connected To a GREAT Real Estate Agent Here:
homeandmoney.com/jason
My Gear I Use for RUclips:
www.amazon.com/shop/jason walter
Products I use and like: #ad
Tubebuddy www.tubebuddy.com/jason808
Virtual Assistants (video editing) bit.ly/3lYRujQ
I have been watching the AZ Real Estate Market very closely. I am one of those highly qualified, 20% down with income no debt ppl waiting on the sideline and I will wait patiently for as long as I need to for these crazy and outrageous housing prices to go down and if they don't I do not care because in my eyes it is better to rent then be stuck in an overpriced box.
The well loved homes, manicured yards and decently priced homes are flying off the shelf but all the others are struggling a bit but are eventually being bought. A lot of the nice homes being picked up for a decent price are in horrible neighborhoods which tells me these are out of state buyers. They are obviously not realizing we are having a serious homeless, drug and crime problem here. A beautiful home may be nice until it is broken into or you are driving to your local grocery store and you see homeless all around the neighborhood. Good luck with that especially it you have children.
Americans living beyond means Ugg
Thanks for covering Arizona! Some of us are waiting on the sidelines for this insanity to stabilize. It's insane to hear the home value has increased over 50% since 2020 but I'm honestly not surprised. Sticker shock is an understatement, especially in the rural suburbs.
PLEASE KEEP UPDATES ON ARIZONA COMING THEY ARE VERY HELPFUL!! THANK YOU!!!
Glad you enjoyed it!
Last week Redfin said 1 in 7 homes sell for a loss. You can always hype up the numbers........A car dealers can sell 4 cars this week and 7 the next that's a 75% increase but if he has 4000 cars in the back lot he's in trouble.
See and they BT for a Tax refund season . They say not Good or Auctions now..
I agree 100 about AZ being in a buyer’s market right now
To me the 2020-2022 timeframe was so anomalous that I put little weight to comparisons to them. Seems most of your numbers are reverting to the mean of 2019.
Appreciate all of your efforts!
You bet!
Covid was indeed an aberration. The supply and demand constraints - in everything from home sales to gnipgnops on Amazon - were due to external sources (namely, government restrictions) and not market forces. So it makes sense to sort of pretend the last three years didn’t happen, and return to 2019 for tracking broad market forces.
I see a lot of pending that goes back on market so i think thats why they count pending
Thanks Lino. I'm guessing easier to track too.
Please keep doing the videos on Arizona, so many realtors here telling us that prices are going up. Thanks for all that you do.
It's so refreshing to hear you challenge the real estate talk such as the definition of a balanced market. I think any rational person would agree that this is when buyers and sellers are equally advantaged and prices are not changing substantially.
Thanks for the AZ update!
You bet!
Thanks Jason. Great analysis.
Thank you!
Audio is excellent! Plosives appear to be gone and i’m hearing no bass at all.
Not sure if the HPF was applied to this track or if your mic was just pointed funny yesterday, or both, but either way, big up 😎
not really , compared to pre pandemic levels still not that high, And very very low foreclosures till date. In 2008 we had record foreclosures. I am pleasantly surprised with the housing market , its resilient. Who ever bought their homes before 2020 made the best decision of their lives , not so much if you are home buyer since 2021, and esp now,
👍 Great content, keep the videos coming!
😁😁😁😁 One of ur Better ones..Good morning no Tax Bill Yet !!
Thank you and Good morning!
If you trust surveys, consumer sentiment about the housing market is still pretty dismal. Novice observation in our PHX area neighborhood - people's pride in their home seems be in decline. I'm curious if negative appreciation and/or being "underwater" saps one's desire to maintain their property? Something feels different lately.
There's some truth in that. People remodel and put $ into their homes when prices are up.
thanks
You bet!
If it takes 84 days to sell a
House, the pricing is almost always out of touch with reality.
If a house shows well and is well priced there is no reason that it should ever take more than 30 days to sell and I would even say that it should sell(be under contract) in 15 days
arizona realtor likes to look at crowford report... very different from other re[ort you guys see.. Is crowford report reliable
The number of homes for sale in Florida jumped +12% for the month of April alone. Inventory is increasing NATIONALLY as well.
I wonder if the iBuyer inventories are all counted in the official inventory levels. Would you please examine this question?
Also even with inventory over 1 million dollars - they say that it maybe 6-8 months but that “years back it was nearly two years of supply (as if either situation suggests good health )
I live in buckeye and homes are being gobbled up like nobody's business. As soon as you see a house up for sale it is pending in the next couple of days
There are currently 12,166 Homes for Sale on Arizona MLS - ACTIVE homes for sale! This is down (as you showed) about 75% from just a few months ago. Not many homes for sale here in AZ! I show we have 10,034 under contract! We might see less than 10k homes for sale by June if this continues!
I think the expectation of having a 6 month inventory to have a balanced housing market for buyers and sellers is probably not appropriate anymore. This needs to be adjusted, maybe now its only a 3 or 4 month supply. As with many things post pandemic, the way we thought about things before the pandemic has changed and now we need to adjust those expectations and standards for the new markets.
Lot of the Arizona real estate RUclipsrs keep on saying it is a sellers market based on this info and often( if not always ) sidestep the question of the decline of prices
I think people are starting to realize Arizona is running out of drinkable water.
Blame California
@@vijayanchomatil8413 nah, it’s not California’s fault. Blame the Colorado River Compact of 1922, basing the allocations on abnormally high water levels, and the fact that that was literally a hundred years ago and all seven states involved are DRASTICALLY different. The fact the compact hasn’t been renegotiated in the past century is a failure of politicians from all seven states for decades upon decades of residential and industrial growth. The current Colorado River water crisis was not unforeseen, but it is politically convenient for every one of ‘em in the driver’s seat for generations now to kick the can down the road.
❤❤❤
2
Good morning!
you know what forget about it
8th
Good morning!!
1😊
Good morning!!
Californians should be required to have internal passports before they can travel out of state.
Home prices are not Decreasing in Arizona. They are up 5% since january. This is not true. Why do people lie about this stuff?
Here's the report I shared in today's video www.aaronline.com/2021/03/24/arizona-housing-report/
@@JasonWalter1 You choose to pick this narrative... You do realize that since January, home values in Arizona have increased by 5%....? Why dont you report that? Its like you purposely try to mislead people and I get tired of this fake news. You know better but choose to pursue this path.