March 2023 DPR Realty
The first responsibility of a leader is to define reality.
- Max De Pree, Author, Leadership is an Art
2023
Good Buyer Demand
Strong Buyer Demand
Source: KCM Analysis, Mortgage News Daily
5.5 6 6.5 7 7.5 1/3 1/4 1/5 1/6 1/9 1/10 1/11 1/12 1/13 1/16 1/17 1/18 1/19 1/20 1/23 1/24 1/25 1/26 1/27 1/30 1/31 2/1 2/2 2/3 2/6 2/7 2/8 2/9 2/10 2/13 2/14 2/15 2/16 2/17 2/21 2/22 2/23 2/24 2/27 2/28 3/1 3/2
30-Year Fixed Rate Mortgage News Daily Rate Index: 30-Year Fixed Rate
Weak Buyer Demand
Limited Buyer Demand
2023: 30-Year Mortgage Rate vs. 10-Year Treasury Yield
Sources: Mortgage News Daily, WSJ
2.40 2.60 2.80 3.00 3.20 3.40 3.60 3.80 4.00 4.20 5.4 5.6 5.8 6 6.2 6.4 6.6 6.8 7 7.2 30-Year Fixed Mortgage Rate 10-Year Treasury Yield
The economy is showing signs of resilience, mainly due to consumer spending, and rates are increasing. Overall housing costs are also increasing and therefore impacting inflation, which continues to persist.
- Sam Khater, Chief Economist, Freddie Mac
For Over 50 Years, the 30-Year Mortgage Rate Has Moved in Unison with the 10-Year Treasury Yield
Source: Freddie Mac, Macrotrends
0 2 4 6 8 10 12 14 16 18 1972 1980 1990 2000 2010 2022 10-Year Treasury Yield 30-Year Fixed Mortgage Rate Average Spread:
1.72
Sources: Mortgage News Daily, WSJ
Treasury Yield 3.74 4.06 6.45 7.10 10-Year Treasury Yield 30-Year Fixed Mortgage Rate Average Spread 2.756 3.040 2.705
30-Year Mortgage Rate and 10-Year
The even bigger challenge: Inventory
U.S. Total Listing Count
Source: realtor.com
200,000 400,000 600,000 800,000 1,000,000 1,200,000 1,400,000 1,600,000 1,800,000 2,000,000 Jan-17 Mar May July Sept Nov Jan-18 Mar May July Sept Nov Jan-19 Mar May July Sept Nov Jan-20 Mar May July Sept Nov Jan-21 Mar May July Sept Nov Jan-22 Mar May July Sept Nov Jan-23
While the Number of Homes For Sale Is Increasing, It Is Still 47.4% Lower Than It Was Before the Pandemic in 2017 to 2019
Active Monthly Listings Counts (Last 7 Februarys) 1,151,363 1,043,166 1,100,904 926,552 462,525 344,462 577,972 2017 2018 2019 2020 2021 2022 2023 Source: realtor.com
Change in Inventory
Month-Over-Month, February 2023
Source: realtor.com
Single-Family Housing Units Completed
Source: Census
1970 1975 1980 1985 1990 1995 2000 2005 2010 2015 2020 Average Annual Units Completed 4 Consecutive Years of Record-Setting Number of Units 14 Straight Years Below 52-Year Average
Source: Lance Lambert, Forbes
Company # of Homes Short realtor.com -5.24 Million Bank of America -4 Million Freddie Mac -3.8 Million Morgan Stanley -2 Million John Burns Consulting -1.7 Million Moody’s Analytics -1.6 Million Number of Homes Each Company Forecasts the Market Being Short
Housing Market Short Millions of Homes
How Much Have Prices Fallen from Peak?
The Drop in Home Values Since the June Peak (Through December 2022)
-2.7%
Source: Case-Shiller, FHFA, Moody’s Analytics
-1% -1.6%
Moody's FHFA Case-Shiller
I Buy a Home Right Now? YES NO
Should
Median Asking Rent Since 1988
Source: Census $300 $350 $400 $450 $500 $550 $600 $650 $700 $750 $800 $850 $900 $950 $1,000 $1,050 $1,100 $1,150 $1,200 $1,250 $1,300 $1,350 $1,400 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Q4 2022
Estimated National Price Performance
December to December, as Forecasted in Q4 2022
Pre-Bubble Bubble Bust Recovery To Date -1.61% 1.90% 3.57% 4.25% 4.44% 2023 2024 2025 2026 2027 Source: Q4 2022 HPES 2023
Percent Change in Home Prices
Since Q1 1991, Q4 2022
Source: FHFA
Potential growth in household wealth over the next 5 years based solely on increased home equity if you purchase a $400K home in January 2023
Based on price appreciation projected by the Home Price Expectation Survey
Source: Q4 2022 HPES
Pre-Bubble Bubble Bust Recovery To Date $400,000 $395,356 $402,868 $417,250 $434,983 $454,296 2023 2024 2025 2026 2027 2028 $54,296
3 Ways To Generate Listings Right Now
1. Diligently work expired listings
The Top 3 Conversations You Need To Have Right Now
2. Talk with your clients about the equity they have in their homes
3. Reach out to people who bought homes over the last two years
A Seller’s 4 Options When Their Listing Expires:
Diligently Work
Expired Listings
1. Relist with their current agent
2. Take the house off the market
3. List the house For Sale By Owner (FSBO)
4. Relist with a new agent
48 percent of mortgaged residential properties in the United States were considered equity-rich in the fourth quarter, meaning that the combined estimated amount of loan balances secured by those properties was no more than 50 percent of their estimated market values.
- ATTOM
Homeowner Equity Insights Report
$34.3K
Average equity gain for U.S. homeowners with mortgages
$2.2T
Year-Over-Year total increase in equity for U.S. homeowners with mortgages
15.8%
Year-over-year percentage increase in equity for U.S. homeowners with mortgages
Source: CoreLogic
2022 Q3 CoreLogic
Percent Change in Home Prices
Over 5 Years, Q4 2022
Source: FHFA
Percent Change in Home Prices
Since Q1 1991, Q4 2022
Source: FHFA
When getting help with money, whether it is insurance, real estate or investments you should always look for a person with the heart of a teacher . . .-
Dave Ramsey
Now Available: Spring Buyer & Seller Guides
rate-yield-chart
Resources Slide(s) Description Link(s) 2 Max De Pree Quote https://depree.org/about/max/ 3 Rates and Buyer Demand https://www.mortgagenewsdaily.com/mortgage-rates 4 30-Year Rate vs. 10-Year Treasury https://www.mortgagenewsdaily.com/mortgage-rates https://www.wsj.com/marketdata/quotes/bond/BX/TMUBMUSD10Y/historical-prices 5 Khater Quote https://freddiemac.gcs-web.com/news-releases/news-
6 10-Year Treasury & 30Year Mortgage Rate Spread Historically https://www.freddiemac.com/pmms/pmms_archives https://www.macrotrends.net/2016/10-year-treasury-bond-
7 10-Year Treasury & 30Year Mortgage Rate Today https://www.mortgagenewsdaily.com/mortgage-rates https://www.wsj.com/market-
9-11 Inventory Graphs and Map https://www.realtor.com/research/data/ https://www.realtor.com/research/february-2023-data/
release-details/mortgage-rates-increase-secondconsecutive-week
data/quotes/bond/BX/TMUBMUSD10Y/historical-prices
https://www.fhfa.gov/DataTools/Downloads/Pages/HousePrice-Index.aspx https://twitter.com/Markzandi/status/1628510598660075521
Resources Slide(s) Description Link(s) 12 New Construction over Time www.census.gov/construction/nrc/xls/co_cust.xls 13 Inventory Shortage Forecasts by Entity https://twitter.com/NewsLambert/status/1559643944421556 225 15 Home Value Declines Graph https://www.spglobal.com/spdji/en/indices/indicators/sp-
corelogic-case-shiller-us-national-home-price-nsaindex/#news-research
16 Rent Since 1988 http://www.census.gov/housing/hvs/files/currenthvspress.pd f 17 Home Price Expectation Survey Graph https://pulsenomics.com/surveys/#home-price-expectations 18, 25 & 26 FHFA Home Prices over Time https://www.fhfa.gov/DataTools/Tools/Pages/House-Price-
Index-(HPI).aspx
Resources Slide(s) Description Link(s) 19 Home Price Expectation Survey Through 2028 https://pulsenomics.com/surveys/#home-price-expectations 23 ATTOM Quote https://www.attomdata.com/news/market-trends/homesales-prices/attom-q4-2022-u-s-home-equity-andunderwater-report/ 24 CoreLogic Homeowner Equity Insights https://www.corelogic.com/intelligence/homeowner-equityinsights/ 27 Headlines https://fortune.com/2022/12/08/pandemic-homebuyers-
https://www.theguardian.com/lifeandstyle/2022/mar/16/us-
https://www.nytimes.com/2022/02/04/realestate/home-
28 Ramsey Quote https://www.ramseysolutions.com/
regret-buying-house/
home-buying-ownsership-covid-pandemic-regrets
buying-regret.html
Updates
https://www.nar.realtor/research-and-statistics/researchreports/realtors-confidence-index
http://www.census.gov/construction/nrs/pdf/newressales.pdf https://www.nar.realtor/topics/existing-home-sales
https://www.nar.realtor/research-and-statistics/housingstatistics/pending-home-sales
https://www.spglobal.com/spdji/en/indices/indicators/spcorelogic-case-shiller-20-city-composite-home-price-nsaindex/#news-research
https://www.corelogic.com/intelligence/u-s-home-priceinsights/
Resources Slide(s) Description Link(s) 37 Confidence Index
38-40, 48, 50, 51, 57-62 Existing Home Sales https://www.nar.realtor/topics/existing-home-sales 41-44 New Home Sales
45 Total Home Sales
http://www.census.gov/construction/nrs/pdf/newressales.pdf http://www.census.gov/newhomesales
46, 47 Pending Home Sales
44-46 Case Shiller
55 CoreLogic Price Forecast
https://www.nar.realtor/topics/existing-home-sales
http://www.census.gov/construction/nrs/pdf/newressales.pdf
https://www.realtor.com/research/data/
https://www.showingtime.com/blog/december-2022showing-index-results-west-sees-small-uptick-to-end-2022/
http://www.freddiemac.com/pmms/pmms_archives.html
http://www.freddiemac.com/research/forecast/
https://www.mba.org/news-research-andresources/research-and-economics/forecasts-andcommentary
http://www.fanniemae.com/portal/researchinsights/forecast.html
https://www.mba.org/news-research-andresources/research-and-economics/forecasts-andcommentary
https://www.nar.realtor/research-and-statistics
https://www.mba.org/news-research-andresources/newsroom
https://www.mba.org/news-research-andresources/research-and-economics/single-familyresearch/mortgage-credit-availability-index
Resources Slide(s) Description Link(s) 56-64 Inventory
66 Showing Activity
68, 69, 71, 72 Mortgage Rates
70 Mortgage Rate Projections
74, 75 Mortgage Credit Availability
Home Sales
Average Days on the Market
46 49 44 36 24 26 27 29 31 31 36 38 41 41 36 29 27 26 24 22 22 21 21 21 21 20 18 17 17 17 17 17 17 18 18 19 19 18 17 17 16 14 14 16 19 24 26 33 Jan-19 Feb Mar Apr May June July Aug Sept Oct Nov Dec Jan-20 Feb Mar Apr May June July Aug Sept Oct Nov Dec Jan-21 Feb Mar Apr May June July Aug Sept Oct Nov Dec Jan-22 Feb Mar Apr May June July Aug Sept Nov Dec Jan-23 Source: NAR
January 2023
Existing Home Sales
Since January 2014
Source: NAR
3,800,000 4,300,000 4,800,000 5,300,000 5,800,000 6,300,000 6,800,000 Jan 2014 Jan 2015 Jan 2016 Jan 2017 Jan 2018 Jan 2019 Jan 2020 Jan 2021 Jan 2022
Existing Home Sales
Year-Over-Year, by Region
Source: NAR
-34.0% -28.8% -30.3% -33.1% -43.4% U.S.
South
Northeast Midwest
West
Existing Home Sales
Source: NAR
In Thousands 0 100 200 300 400 500 600 January February March April May June July August September October November December 2021 2022 2023
New Home Sales
Source: Census
In Thousands 0 10 20 30 40 50 60 70 80 90 January February March April May June July August September October November December 2021 2022 2023
New Home Sales
Source: Census
Annualized in Thousands 360 460 560 660 760 860 960 1060 jun-14 Jan-15 Jan-16 Jan-17 Jan-18 Jan-19 Jan-20 Jan-21 Jan-22 Jan-23
New Home Sales
Percent
by Price Range
0% 13% 32% 21% 23% 10% Under $150K $150-$199K $200-299K $300-$399K $400-$499K $500-$749K Over $750K Source: Census
1%
of Distribution
* Less Than 500 Units or Less Than 0.5 Percent *
New Homes Selling Fast
Median Months from Completion to Sold
Source: Census
3.2 3.6 3.6 3.4 3.5 3.6 3.4 3.2 3.5 3.1 3.2 3.0 3.4 3.4 3.4 3.3 3.6 4.2 4.3 4.5 4.5 4.2 4.0 3.6 3.2 3.7 5.1 4.9 4.5 4.1 4.5 3.6 3.1 2.5 2.9 3.2 2.8 2.7 3.5 3.5 2.8 2.9 2.4 1.9 1.5 1.5 1.8 2.0 2.4 Jan-19 Feb Mar Apr May Jun Jul Aug Sept Oct Nov Dec Jan-20 Feb Mar Apr May June July Aug Sept Oct Nov Dec Jan-21 Feb Mar Apr May June July Aug Sept Oct Nov Dec Jan-22 Feb Mar Apr May June July Aug Sept Oct Nov Dec Jan-23
Total Home Sales
Source: Census
In Thousands 443 436 567 587 593 676 646 631 604 577 557 574 422 423 524 517 557 575 495 528 477 419 372 374 290 January February March April May June July August September October November December 2021 2022 2023
Pending Home Sales
Source: NAR
60 70 80 90 100 110 120 130 140 January 2012 January 2013 January 2014 January 2015 January 2016 January 2017 January 2018 January 2019 January 2020 January 2021 January 2022 January 2022
100 = Historically Healthy Level
Pending Home Sales
Year-Over-Year by Region
Source: NAR
100 = Historically Healthy Level -24.1% -19.8% -21.1% -24.7% -29.3% U.S. Northeast Midwest South West
Percentage of Distressed Property Sales
Distressed Sales (Foreclosures and Short Sales) represented 1% of Sales in December.
Source: NAR
0% 5% 10% 15% 20% 25% 30% 35% Jan 2012 Jan 2013 Jan 2014 Jan 2015 Jan 2016 Jan 2017 Jan 2018 Jan 2019 Jan 2020 Jan 2021 Jan 2022 Jan 2023 4%
Home Prices
Sales Price of Existing Homes
Year-Over-Year, by Region
1.3% 0.3% 2.7% 3.4% -4.6% U.S. Northeast Midwest South West Source: NAR
West
% Change in Sales
Year-Over-Year, by Price Range
Source: NAR
$0-100K $100-250K $250-500K $500-750K $750K-1M $1M+ % -25.5% -35.6% -31.4% -33.5% -36.9% -41.0% -25.5% -35.6% -31.4% -33.5% -36.9% -41.0%
Change in Home Prices
Year-Over-Year
Source: S&P Case-Shiller
0% 5% 10% 15% 20% Jun 2012 Jan 2013 Jan 2014 Jan 2015 Jan 2016 Jan 2017 Jan 2018 Jan 2019 Jan 2020 Jan 2021 Jan 2022
Change in Home Prices Year-Over-Year,
20 City Composite
Source: S&P Case-Shiller Jan 2014 Feb Mar Apr May Jun Jul Aug Sept Oct Nov Dec Jan 2015 Feb Mar Apr May Jun Jul Aug Sept Oct Nov Dec Jan 2016 Feb Mar Apr May Jun Jul Aug Sept Oct Nov Dec Jan 2017 Feb Mar Apr May Jun Jul Aug Sept Oct Nov Dec Jan 2018 Feb Mar Apr May Jun Jul Aug Sept Oct Nov Dec Jan 2019 Feb Mar Apr May Jun Jul Aug Sept Oct Nov Dec Jan 2020 Feb Mar Apr May Jun Jul Aug Sept Oct Nov Dec Jan 2021 Feb Mar Apr May June July Aug Sept Oct Nov Dec Jan 2022 Feb Mar Apr May June July Aug Sept Oct Nov Dec
Change in Home Prices
Year-Over-Year, 20 City Composite
Source:
Case-Shiller
S&P
18.9% 20.3% 21.1% 21.2% 20.5% 18.7% 16.0% 13.1% 10.4% 8.6% 6.8% 4.6% Jan 2022 Feb Mar Apr May June July Aug Sept Oct Nov Dec
Year-Over-Year % Change in Price January 2023
Source: CoreLogic
5.5% 3.1%
Current Forecast
Housing Inventory
Change in Inventory
Month-Over-Month, February 2023
Source: realtor.com
Months Inventory of Homes for Sale
Source: NAR
2011 - Today 1.5 2.5 3.5 4.5 5.5 6.5 7.5 8.5 9.5 January 2011 January 2012 January 2013 January 2014 January 2015 January 2016 January 2017 January 2018 January 2019 January 2020 January 2021 January 2022 January 2023
Months Inventory of Homes for Sale
Source: NAR
3.8 3.6 3.8 4.2 4.34.3 4.2 4.04.0 3.9 3.7 3.0 3.13.1 3.3 4.0 4.6 3.9 3.1 3.0 2.7 2.5 2.3 1.91.9 2.0 2.1 2.3 2.52.5 2.62.6 2.42.4 2.1 1.7 1.6 1.7 1.9 2.2 2.6 2.9 3.23.2 3.1 3.33.3 2.92.9 1.5 2.0 2.5 3.0 3.5 4.0 4.5 5.0 5.5 6.0 Jan-19 Feb Mar Apr May June July Aug Sept Oct Nov Dec Jan-20 Feb Mar Apr May June July Aug sept Oct Nov Dec Jan-21 Feb Mar Apr May June July Aug Sept Oct Nov Dec Jan-22 Feb Mar Apr May June July Aug Sept Oct Nov Dec Jan-23
Since 2019
Months Inventory of Homes for Sale
Last 12 Months
Source: NAR
1.7 1.9 2.2 2.6 2.9 3.2 3.2 3.1 3.3 3.3 2.9 2.9 0 1 2 3 4 5 6 Feb Mar Apr May June July Aug Sept Oct Nov Dec Jan-23
Year-Over-Year Inventory Levels
Source: NAR
-30% -20% -10% 0% 10% 20% 30% January 2014 January 2015 January 2016 January 2017 January 2018 January 2019 January 2020 January 2021 January 2022 January 2023 % 7. 5. 3. 6. 6. 5. 5. 4. 6. 5. 5. -0 -0 -0 2. -0 1. 0. -4 -1 -3 -4 -1 -3 -2 -1 -1 -3 -9 -5 -5 -1 -6 -1 -9 -6 -7 -6 -6 -9 -8 -7 -9 -6 -6 -1 -9 -1 -9 -8 -7 -6 -6 0. 0. 2. 1. 2. 4. 6. 4. 2. 2. 1. 2. 0. -1 -2 -2 -4 -5 -9 -1 -9 -1 -1 -1 -1 -2 -1 -1 -1 -2 -2 -2 -2 -2 -2 -2 -1 -1 -1 -1 -9 -1 -1 -1 -1 -9 -1 -4 2. 0. 0. -0 -0 2. 10 15
Year-Over-Year Inventory Levels
Last 12 Months
Source: NAR
-15.5% -9.5% -10.4% -4.1% 2.4% 0.0% 0.0% -0.8% -0.8% 2.7% 10.2% 15.3% Feb Mar Apr May June July August Nov Dec Jan 2023 July Aug Sept June Oct Nov Dec Jan 2023
New Home Monthly Inventory
Seasonally Adjusted, Last 12 Months
Source: Census
5.7 6.0 7.0 8.4 8.3 9.4 10.1 8.5 10.1 9.4 9.2 9.0 Jan 22 Feb Mar Apr May June Jul Aug Sept Oct Nov Dec
New Home Monthly Inventory
Non-Seasonally Adjusted
Source: Census
5.6 5.5 5.9 7.6 7.6 9.5 10.4 9.2 10.7 10.6 10.9 9.7 7.9 Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec 2022 2023
Buyer Demand
Largest Jump in Showings for Any January on Record
Year-Over-Year Increase in Showing Activity, January 2023
Michael Lane, Vice President & General Manager, Showing Time“It’s typical to see a seasonal increase in home showings in January as buyers get ready for the spring market, but a larger increase than any January before after last year’s rapid cooldown is significant. Mortgage rate activity this spring will play a big role in sales activity, but January’s home showings are a positive sign that buyers are getting back out there and the housing market is heading toward a new, more sustainable ‘normal.”
Source: ShowingTime
-24.3% -16.4% -22.1% -31.3% -52% U.S. Northeast Midwest South West
Mortgage Rates
Mortgage Rates
30-Year Fixed Rate, January 2018–Today
2.0 2.5 3.0 3.5 4.0 4.5 5.0 5.5 6.0 6.5 7.0 7.5 8.0
Source: Freddie Mac
6.65%
Mortgage Rates
30-Year Fixed Rate, January 2016–Today
2.0 2.5 3.0 3.5 4.0 4.5 5.0 5.5 6.0 6.5 7.0 7.5 8.0 1/7/16 2/4 3/3 4/7 5/5 6/2 7/7 8/4 9/1 10/6 11/3 12/1 1/5/2017 2/2 3/2 3/30 4/27 5/25 6/22 7/20 8/17 9/14 10/12 11/9 12/7 1/4/2018 2/1 3/1 4/5 5/4 6/7 7/5 8/2 9/6 10/4 11/1 12/6 1/3/2019 1/31 3/7 4/4 5/2 6/6 7/3 8/1 9/5 10/3 11/7 12/5 1/2/2020 2/6 3/5 4/2 5/7 6/4 7/2 8/6 9/3 10/1 11/5 12/3 1/7/2021 2/4 3/4 4/1 5/6 6/3 7/1 8/5 9/2 10/7 11/4 12/2 1/6/2022 2/3 3/3 4/7 5/5 6/2 7/7 8/4 9/1 10/6 11/3 12/1 1/5 2/2 3/2
Mac
Source: Freddie
6.65%
Mortgage Rate Projections
March 2023 Quarter Fannie Mae MBA NAR Average of All Three 2023 Q1 6.40% 6.40% 6.70% 6.50% 2023 Q2 6.40% 6.10% 6.30% 6.27% 2023 Q3 6.20% 5.70% 5.90% 5.93% 2023 Q4 6.10% 5.30% 5.60% 5.67%
Mortgage Rates
30-Year Fixed Rate
January 2019 – Today Actual Interest Rates
Where Are They Going?
2.0 3.0 4.0 5.0 6.0 7.0 8.0 2019 1/31 3/7 4/4 5/2 6/6 7/3 8/1 9/5 10/3 11/7 12/5 2020 2/6 3/5 4/2 5/7 6/4 7/2 8/6 9/3 10/1 11/5 12/3 2021 2/4 3/4 4/1 5/6 6/3 7/1 8/5 9/2 10/7 11/4 12/2 2022 2/3 3/3 4/7 5/5 6/2 7/7 8/4 9/1 10/6 11/3 12/1 1/5 2/2 6.4 6.1 5.7 5.3 2023 Q1 2023 Q2 2023 Q3 2023 Q4
Source: Freddie Mac, MBA
Mortgage Rates
30-Year Fixed Rate
Source: MBA
2018 Q1 2018 Q2 2018 Q3 2018 Q4 2019 Q1 2019 Q2 2019 Q3 2019 Q4 2020 Q1 2020 Q2 2020 Q3 2020 Q4 2021 Q1 2021 Q2 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 Rate 4.3 4.5 4.6 4.8 4.4 4 3.7 3.7 3.5 3.2 3.0 2.8 2.9 3.0 2.9 3.1 3.9 5.3 5.7 6.6 6.4 6.1 5.7 5.3 2.5 3 3.5 4 4.5 5 5.5 6 6.5 7 7.5 - Actual - Projected 2018 2019 2020 2021 2023 2022
Mortgage Credit Availability
Mortgage Credit Availability Index (MCAI)
Source: MBA
January 2023 100 110 120 130 140 150 160 170 180 190 Apr 2013 Jan 2014 Jan 2015 Jan 2016 Jan 2017 Jan 2018 Jan 2019 Jan 2020 Jan 2021 Jan 2022 Jan 2023
Lending Standards Still Under Control
Source: MBA
Historic Data for the Mortgage Credit Availability Index (MCAI) 0 100 200 300 400 500 600 700 800 900 June 2004 June 2005 June 2006 June 2007 June 2008 June 2009 June 2010 June 2011 June 2012 June 2013 June 2014 June 2015 June 2016 June 2017 June 2018 June 2019 June 2020 June 2021 June 2022 Jan 2023 Housing Bubble: 868.7 103.2
Housing Market Statistics
for Northeast Valley Single Family Homes
in Carefree, Cave Creek, Fort McDowell, Fountain Hills, Paradise Valley, Rio Verde and Scottsdale, Arizona
Average Price per Sq Ft for Sold Northeast
Valley Single Family Homes
Average Days on Market for Sold Northeast Valley Single Family Homes
Number of Active Listings
for Northeast Valley Single Family Homes
Average Price per Sq Ft for Active Northeast Valley Single Family Listings
Peter Shambreskis, REALTOR®, ABR, CRS, GRI, SFR 480-229-6468 Corinne Howard, REALTOR®, ePRO, GRI, SFR, SRS 480-229-6467 info@ShambreskisAndHoward.com www.ShowScottsdaleHomes.com CONTACT US TO DISCUSS YOUR LOCAL ARIZONA REAL ESTATE MARKET