Posted on 08/06/2014 8:13:03 AM PDT by Citizen Zed
1) Overall sales in July were down 17% year-over-year and at the lowest for June since 2008.
2) Cash Sales (frequently investors) were down about 43% to less than 25% of total sales. Non-cash sales were down only about 3% year-over-year. So the decline in sales is probably mostly due to less investor buying.
3) Active inventory is now increasing rapidly and is up 35% year-over-year - and at the highest level for July since 2011 (when prices bottomed in Phoenix).
(Excerpt) Read more at calculatedriskblog.com ...
How unexpected!!
Have you ever been to Phoenix in July. If so you might have booked a room in Death Valley to cool off.
If Houses stop selling in the era of 4% Fixed 30 Year Mortgages, we are in deeper doo doo than anyone imagined.
I live in Arizona. Anything below 110 in the summer is very easy to deal with. It is only when you get 110+ temperatures that you start to feel it. And when we get the week or 2 of 115-120 that is when you start to choke. That is when you see all these cars on the side of the road. If at all possible you want to stay inside and rune your errands when the sun goes down. It is the safest option.
My father took us to Chicago for one year--a job. I still have a photo of my sister and me. The only way to tell the difference between us under all those warm clothes was that I was the shorter girl.
It STILL costs about $400.00/month to cool or heat the home in those climates during their summer/winter.
Brutal either way.
I also know heat and humidity because my husband and I lived 100 yards from the Persian/Arabian Gulf in Saudi Arabia for five years. It's about 115 degrees there now, with 95% humidity and 95-degree water temperature. I don't EVER complain about heat anymore...ever.
Now I'm too often cold!
Before A.C. hit Saudi Arabia, no one came outside until the sun went down. Life BEGAN at sunset. Still does because of the BRUTALITY of their normal weather.
I was told that they didn't want to freak people out so they reported that the temp was 118 when it was really about 130.
“I live in Arizona. Anything below 110 in the summer is very easy to deal with. It is only when you get 110+ temperatures that you start to feel it. And when we get the week or 2 of 115-120 that is when you start to choke. That is when you see all these cars on the side of the road. If at all possible you want to stay inside and rune your errands when the sun goes down. It is the safest option.”
My Father retired there a number of years ago. Before his death some 10 years ago, I use to visit him. In Tempe, where he lived, we went down around Arizona State University Stadium (where they use to play the Fiesta Bowl) to a restaurant one time and had to walk down a street that had brick buildings. It was mid day in August and the hot bricks from the buildings on either side of us plus the 110 degree heat nearly cooked me.
One of my nephews lives in Arizona, I think in the Phoenix area. I hope that he moves back to Florida, near his family.
Phoenix in July?
I’d rather visit a rodent petting zoo...
You are all like ants with the sun bearing down on you
ZAP! Your fried!
It truly just isn’t that bad when you get acclimated.
There are 4 months of heat, while the other 8 months are pretty darn good.
I traded 6 months in the icebox of New Hampshire for 8 months of sunny, dry, cool weather in Phoenix. New Hampshire also had a lot of rain in the summer. With rain almost every other day during the summer, you still had to stay inside. When you could go outside, it was black fly season or mosquito season or horse flies and ticks.
And liberalism.
I have Constitutional Carry here.
It was95 yesterday after a rain storm an I was cold.
PUT ON YOUR WINTER WOOLIES FOR A BIT.
When I lived in the KSA I got used to the heat:
--105º starting in April then 117º June through October and sometimes even until mid November
--Slowly down to the mid 50's at Christmas through March, then slowly back up to the 100s. December was the nicest month.
Now I'm in a climate where it's 50-55º all year around with a VERY slight dip/rise in the dead of winter/middle of summer.
--No flies or mosquitoes, ever. Just too cold for them.
--I forgot to mention the daily westerly winds picking up at about 2:00 P.M. and dying down by sunset. Keeps away all the smog of an urban area.
Where do you live?
One thing about this place, it may be hot in the summer but you only have to drive an hour or so to be in a completely different climate. I was up on the Mogollon Rim last weekend and it was like being in Canada.
West Coast—Californa
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