SUPPLY AND DEMAND
The supply of homes in Chandler-Gilbert from 150k to 300k is now 1.9 months of inventory, which you can see on the right side of the chart below. That means if no more homes came on the market, all homes that are presently on the market would sell out in 1.9 months. (A 'normal' market is around 5 months of inventory.) This is up from the summer months, when inventory was below one month in this price range. So, inventories are rising, but are still below normal. Now the question is, are prices rising? (please see the next chart)
Let's look at the demand for homes in the 150k to 300k price range by looking at price per square foot. You can see on the chart below that prices have been going sideways since mid-September, after a long period of rising. So what do we have? We have inventories increasing, but still low. And we have prices moving sideways after a long period of rising as buyers are shying away from homes prices over $125 per square foot.
So, in this environment, both buyers and sellers in this price range should find a good market in which to do business through the first quarter of 2014.
Monday, December 23, 2013
Saturday, December 21, 2013
Fannie Mae Fee Increases to Be Delayed by FHFA Under Watt
I mentioned this would happen to my BNI networking group last Wednesday.
U.S. Representative Mel Watt, who
will leave Congress to become regulator of Fannie Mae and
Freddie Mac (FMCC), said he will delay a planned increase in the fees
the U.S.-owned companies charge to guarantee mortgages. Read the full story here.
Mel Watt |
Labels:
chandler real estate update.,
housing news
Location:
Chandler, AZ, USA
Saturday, December 7, 2013
For Sale 4 Bedroom 2 Bathroom with Pool in Chandler, AZ 85224
For Sale: Beuatiful 4 Bedroom 2 Bathroom House with Pool.
Spectacular Kitchen!
2503 W Summit Place, Chandler, AZ 85224
2503 W Summit Place, Chandler, AZ 85224
$250,000
Wow! Perfect
Location! Totally Private with a Huge Diving pool in this resort like
backyard! Completely Remodeled kitchen with New High-End Raised Panel
Cabinets! Granite counters! Stainless Steel appliances! Newer Anderson
Low E Windows! Tile and wood flooring throughout! Great room open floor
plan that is Bright and comfortable! Huge master with massive mirrored
closet! Remodeled master and 2nd bath too! Perfect Entertaining and
private backyard with Pebble-Tec diving pool and Water fall for endless
summer fun! LOCATION! LOCATION! LOCATION! Located close to the Freeway
and Shopping! Walk your kids to School!
Call Tom Speaks to view this home! 602-418-8045.
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