Well, the latest Financials are out for the week and it should prove to be great for selling or buying a home in the Sedona Homes For Sale marketplace.
Even though it was a tale of two numbers with the Consumer Confidenceoff-the-charts positive! However the FHFA home price index was flat for November and the Case-Schiller 10 city house price index was actually down .8% month-over-month, putting the year-over-year number in slightly negative territory.
But since the Sedona Homes for Sale marketplace is really a 2nd home market place - consumer confidence is critical. Consumer Confidence was boosted by optimism about the job markets (according to the survey). We wonder whether a double-dip in house prices, now highly likely, will impact future CC numbers. We think not, because pessimism about Real Estate is probably factored in to peoples' expectation.
On a positive note, studies indicate that in several markets it is now cheaper to buy than to rent. Can you imagine that - it's now cheaper to buy than to rent! Of course, this factors in all costs and tax benefits of home ownership vs all costs in renting.
This is most true in the worst markets, Las Vegas and Miami, but I would suspect the Phoenix market is also approaching this territory.
Key for this week - watch for comments after the Fed FOMC meeting suggesting that inflation is becoming a concern.
For all your buying and selling needs in Sedona I can be contacted via phone or text at 928-301-0669, email, website, or become a Fan of Sedona Real Estate on Facebook