NAR is reporting that dollar volume of homes
purchased by foreign buyers has fallen 36% in the last year. Tight inventory and Chinese currency
government controls and to blame.
Realtor.com has reported that since June of
2009, home prices are up 50% from that low.
The average homeowner had $75,000 in equity at the beginning of 2010 has
$171,000 in equity. Of course, it all
depends on when you bought your home!
As you can see in the months of supply numbers,
supply is very low. In the greater
Phoenix market this is the lowest numbers seen since the second quarter of
Supply is tightest in the lower price
ranges. In mid-July Cromford reported
that homes priced below the $500,000 price range had only 1.1 months of supply
left. This could contribute to stress
being put on the iBuyer option. The
bread and butter home for sale for the iBuyer falls in this price range as both
Opendoor and OfferPad average home price is in the mid-$200,000s.
Opendoor is showing +4% increase since this time
last year, while OfferPad is trailing at -27%.
Zillow has not been in the market long enough to compare.