APRIL 2016 REAL ESTATE HEADLINES FOR THE TREASURE VALLEY

9 05 2016
July 21 Class at Title One
I am looking forward to getting some perspective on what is happening in 2016!
I want to hear from “experienced agents” as well as share insights of my own
Wild and Crazy Market – and most are unaware of the phenomena pictured in the newest charts 
  APRIL 2016 Inside Scoop – Ada County
If you like to keep score 16 vs. 3 :o)
(I am only counting an item as “Positive” if the first part is in bold)
Positive News in in Bold
 
1.  Sales are UP 17% from last month, 14% up from this same month last year.  Watch this last number especially – as we chew through the existing inventory and buyers are forced to look at the reality of  NC Pricing, what will happen then?   % won’t be able to buy at the higher price so I wouldn’t be surprised to see this decline. . .by our July class we should know more. . . Chart A3 
 
2.  Pending sales are UP 12% from last month, up 19% from a year ago.   Chart A47, A48, & A49.
 
6.  Year to date sales units up 14% from a year ago Chart A4.  The year to date dollar volume is 21% higher this year.  Higher prices will continue in 2016.  Chart A6.  
13.  Resale inventory is up. – 1154 from 1034 last month.   Last year at this time there were 1507 resale homes for sale!!!.  July 2008 was the all time record high at 3920!   July 2005 was the low point in resale inventory at 657.  Good News for Builders!  Lack of inventory is forcing more new construction activity.  Chart A21
 
14.  Single Month Measurement of Inventory Supply is down.  This month’s 2.1 from 2.2 month’s of inventory last month.  This is a calculation of single month snaps – inventory for a particular month divided by that month’s sales – no averaging.  January 2009 set the all time new record high at 16.7 months of inventory.  This sets a new record low – 4/16 at 2.1!  Chart A26.
 
17.  Resale Two Month Rolling Average of Inventory Supply is down.  Selling odds, using a “2 month rolling average” for sales is 1.7 from 1.9 last month.  February 2009 set a record high of 15.6. Last year at this time there were 2.4 months of resale inventory.  July 2005 was the peak of the seller’s market at .9.  Charts A32
 
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