Samantha Goodman PLLC
Integrity & Experience
Mobile: (602) 526-7486     Fax: (623) 877-5455
August 24, 2018
August 24, 2018

Looks like our upward trend in market time continues.  There was some relief in the North Phoenix & 1 Million+ Homes in Scottsdale, appears the higher end homes are seeing a little more activity than the general market.  Interestingly, the >200K market actually increased inventory by 8% from last week to this week, seeing an increase in more affordable homes.

I pulled the total actual sales for this month (August 2018), thus far for single family homes, which is 4,415 homes.  Of that, 3,005 homes make up >350K sales price.  So…68% of our single family homes for this month alone are under the 350K sales price.  Agents are still seeing a lot of multiple offers in this price range and it is a competitive market for the homes in this category!

“Pathway to Purchase” has made a comeback……Buyer incentive….
The Arizona Department of Housing (ADOH), in partnership with the Arizona Home Foreclosure Prevention Funding Corporation (AHFPFC), provides down payment assistance to qualified homebuyers purchasing a primary residence in 26 targeted zip codes in 12 Arizona Cities. The assistance is an incentive to purchase in targeted housing markets that have been hardest-hit by foreclosures.
The Pathway to Purchase (P2P) Down Payment Assistance Program provides an attractive 30-year fixed-rate mortgage with a Down Payment Assistance (DPA) second mortgage equal to * 10% of the purchase price. The DPA second mortgage is a five–year forgivable lien against the subject property at a 0% interest rate and no required monthly payments.  The down payment assistance (DPA) can be used toward the down payment and / or closing costs. DPA is only available in conjunction with a P2P first mortgage and is funded by the AHFPFC at the mortgage loan closing.
Program Highlights:
•    Mortgage for the purchase of an Owner occupied, Primary Residences in targeted areas.
•    Borrower(s) Income not to exceed $92,984.00.
•    Purchase Price limit not to exceed $371,936.00.
•    Existing, previously occupied properties only, new construction, including spec homes are not allowed.
•    The DPA provided is 10% of the purchase price * up to a maximum of $20,000.
•    Freddie Mac HFA Advantage mortgage only.
•    The P2P Program is strictly limited to the targeted zip codes in the following cities: (see target area table for specific zip codes).
o    Bull Head City, Casa Grande, Glendale, Green Valley, Kingman, Phoenix, Rio Rico, Sahuarita, Sierra Vista, Tucson, Vail, Yuma.
•    Each borrower must complete a homebuyer education course before closing.
For More Information:  https://housing.az.gov/general-public/pathway-purchase-down-payment-assistance

Here are your weekly Inventory Levels:

Supply numbers are based on the number of closings in the previous month, divided into the total number of active listings today.   This data is for Single Family Detached homes only and does not include Patio Homes, Condos, or Townhouses .

The total number of single family homes on the market in the Arizona Regional Multiple Listing Service is currently 13,623.  
About the same as last week.    We are seeing an average supply rate of just under 2 months.  
The current number of pending sales are 4,929.  A decrease since last week.  
The current number of pending listings that are "under contract-accepting back-up offers", are 3,140.  A decrease since last week.

Search #1 - Phoenix (City of Phoenix)

Total of 2,917 active listings.  Just under 2 month supply.   An increase since last week.

Search #2 - West, Far SW & Far NW Valley

Total of 3,584 active listings.  Just over a 1 3/5 month supply.  An increase since last week.    

(Cities of: Cordes Lakes, Bumble Bee, Crown King, Wagoner, Yarnell, Date Creek, Constellation, Black Canyon City, Castle Hot Springs, Wickenburg, Aguila, Gladden, Morristown, Circle City, Wittmann,  Harquahala, Tonopah, Paloma, Sentinel, Gila Bend, Mobile, Arlington, Hassayampa, Palo Verde, Congress, Peeples Valley, Yarnell, Cleator, Cordes, Glendale, Litchfield Park, Goodyear, Avondale, Tolleson, Cashion, Estrella Mountain Ranch, Laveen, Peoria, Surprise, Sun City, Sun City West, Glendale, El Mirage, Youngtown, New River, Anthem, Buckeye)

Search #3 - Northeast Valley

Total of 468 Active listings.  Just over 3 1/2 month supply. A slight decrease since last week.    

(Cities of: Rio Verde, Fountain Hills, Sunflower, Camp Creek, Desert Hills, Cave Creek, Carefree, Fort McDowell)

Search #4 - East Valley

Total of 2,630 active listings.  Just over a 1 1/3 month supply.  An increase as last week.

(Queen Creek, Chandler, Gilbert, Apache Junction, Gold Canyon, Tortilla Flat, Mesa, Tempe, Ahwatukee,Guadalupe, Komatke)

Search #5 - Southeast Valley   

Total of 676 active listings.  Just under a 2 month supply.   An increase since last week.

(Arizona City, Eloy, Picacho, Toltec, Arizola, Casa Grande, Randolph, Coolidge, Valley Farms, Florence, Johnson Ranch, Sacaton, Bapchule, Stanfield, Maricopa, Ak Chin, Santa Cruz)

Search #6 - Scottsdale (Over 1 Million)

Total of 605 active listings.  Just under a 8 1/4 month supply.  A slight decrease since last week.    

Search #7 - Scottsdale (Under 1 Million)

Total of 902 active listings.  A 2 1/4 month supply.  An increase as last week.

Search #8 - Paradise Valley (Over 1 Million)

Total of 253 active listings.  Just under an 8 month supply.  An increase since last week.     

Search #9 -  >200K (Single Family Homes)

Total of 1,027 active listings.   Just under a 1 months supply.   An increase as last week.     

Search #10 -  Vacant Land (All Residential Lots)

Total of 7,131 active listings.  Total of 412 pending listings.  Total of 296 closed listings last month.   Just over an 24 month supply.  An increase since last week

If your property is currently listed with a real estate broker or if  you are currently working with another real estate agent, please disregard.  
It is not my intention to solicit the offerings of other real estate brokers.  I am happy to work with them and cooperate fully.

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West USA Realty
16150 N Arrowhead Fountain Center Dr. Suite #100 • Peoria, AZ 85382
Mobile: (602) 526-7486 • Fax: (623) 877-5455
Office: (602) 375-3300


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