Weekly Update. September 7th, 2019.
Today, you can celebrate and learn about the Colorado River, which is a vital but endangered water source for ecosystems, organisms and people. Join dancers, musicians, artists, activists and scientists in sharing diverse perspectives on the river. Admission: included with museum admission. Time: 10:00 AM to 5:00 PM. Museum of Northern Arizona, 2920 Creekside Drive Flagstaff. For more information, please call 928-774-5213.
Starting today, The 11th Annual Grand Canyon Celebration of Art is held until September 15th at Grand Canyon National Park. Visitors will have the opportunity to watch artists paint along the South Rim as they interpret the ever-shifting light and shadow, amazing land forms, and vibrant colors of the canyon. There will also be free artist demonstrations scheduled at various locations at the canyon throughout the week. Admission: Free. Time: 10:00 AM to 7:00 PM. Grand Canyon National Park, S Entrance Rd Grand Canyon Village. For more information, please call Grand Canyon Conservancy on 800-858-2808.
Tomorrow, The Red Rocks Music Festival Concert in partnership with the Sedona International Film Festival, is presenting a special concert, “From Mozart to Gershwin and More”. The concert will include selections by Mozart, Coleridge-Taylor, Gershwin and Webern. Admission: $36 Adults; $14 Children 14 & under. Time: 3:00 PM. Mary D. Fisher Theatre, 2030 W. State Route 89A, Suite A3, Sedona. For more information, please call Patrick Schweiss on 928-282-1177. 
Real Estate Information - Sedona Single Family Residential Homes ONLY.
All the Averages are for 1 year, and this week's numbers are,
New Listings:         22    Average: 17.8  (New Listings; Back on Market) 
Under Contract:     18    Average: 21.4  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:      9     Average:  9.4  (Sold; Closed Escrow) 
Off Market:               6     Average:   5.5  (Canceled; Expired; Temporary Off Market)
Price Reductions:        15     Average  10.9
Price Increases:            1     Average    0.6
 
Contract Ratio:  29.90. The average over the last year is 33.50. 
The Average Price per Square Foot of homes that are Under Contract was $299.86 per square foot. The yearly moving average is $314.84 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $278.52 per square foot.
Speaking in Zurich, Federal Reserve Chairman Jerome Powell said that the move to lower interest rates has helped sustain U.S. economic growth. He went on to make positive suggestions as the current US economy against the background of weakening economies elsewhere in the world. His comments also covered the uncertainty created by the US-China tariff war and the fact that the US inflation rate was below the Fed’s 2% target.
The Labor Department announced that nonfarm payrolls increased by 130,000. This was in part due to the hiring of Census workers, and was below market expectations. The unemployment rate stayed at 3.7%. U-6, a broader measure, rose to 7.2% from 7.0% as a result of an increase of 397,000 for people working part-time for economic reasons. Wage growth remained steady, and slightly improving. Average hourly earnings increased by 0.4% for the month and 3.2% for the year.
NAR released data on their pending home sales index for July, which fell to 105.6 from 108.3, a 2.5% fall on the month and 0.3 % year on year. Pending sales represent homes that have a signed contract to purchase on them but have yet to close. They tend to lead Existing-Home Sales data by 1 to 2 months. 
The slightly disappointing nonfarm payrolls number saw yields on US Treasuries fall slightly after having risen during the week. The yield on the 2-Year was around 1.53%; the 5-Year around 1.42%; the 10-Year around 1.55%; the 20-Year around 1.83%, and the 30-Year around 2.02%.
The stock markets closed the week higher, with the Dow Jones Industrial Average up 398.18 at 26,797.46; The S&P 500 up 52.25 at 2,978.71, and The Nasdaq Composite up 140.19 at 8,103.07.
Sean Baguley.
Information in the post is drawn from the Sedona Verde Valley Association of Realtors Multiple Listing Service and other public sources believed to be reliable, but not guaranteed. Any opinions expressed are solely those of the author and in no way reflect the views of Better Homes and Gardens Real Estate BloomTree Realty.  

 

Weekly Update. September 7th, 2019.

Today, you can celebrate and learn about The Colorado River, which is a vital but endangered water source for ecosystems, organisms and people. Join dancers, musicians, artists, activists and scientists in sharing diverse perspectives on the river. Admission: included with museum admission. Time: 10:00 AM to 5:00 PM. Museum of Northern Arizona, 2920 Creekside Drive Flagstaff. For more information, please call 928-774-5213.

Starting today, The 11th Annual Grand Canyon Celebration of Art is held until September 15th at Grand Canyon National Park. Visitors will have the opportunity to watch artists paint along the South Rim as they interpret the ever-shifting light and shadow, amazing land forms, and vibrant colors of the canyon. There will also be free artist demonstrations scheduled at various locations at the canyon throughout the week. Admission: Free. Time: 10:00 AM to 7:00 PM. Grand Canyon National Park, S Entrance Rd Grand Canyon Village. For more information, please call Grand Canyon Conservancy on 800-858-2808.

Tomorrow, The Red Rocks Music Festival Concert in partnership with the Sedona International Film Festival, is presenting a special concert, “From Mozart to Gershwin and More”. The concert will include selections by Mozart, Coleridge-Taylor, Gershwin and Webern. Admission: $36 Adults; $14 Children 14 & under. Time: 3:00 PM. Mary D. Fisher Theatre, 2030 W. State Route 89A, Suite A3, Sedona. For more information, please call Patrick Schweiss on 928-282-1177. 

Real Estate Information - Sedona Single Family Residential Homes ONLY.

All the Averages are for 1 year, and this week's numbers are,

New Listings:         22    Average: 17.8  (New Listings; Back on Market) 
Under Contract:     18    Average: 21.4  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:      9     Average:  9.4  (Sold; Closed Escrow) 
Off Market:              6     Average:   5.5  (Canceled; Expired; Temporary Off Market)

Price Reductions:        15     Average  10.9
Price Increases:            1     Average    0.6 

Contract Ratio:  29.90. The average over the last year is 33.50. 

The Average Price per Square Foot of homes that are Under Contract was $299.86 per square foot. The yearly moving average is $314.84 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $278.52 per square foot.

Speaking in Zurich, Federal Reserve Chairman Jerome Powell said that the move to lower interest rates has helped sustain U.S. economic growth. He went on to make positive suggestions as the current US economy against the background of weakening economies elsewhere in the world. His comments also covered the uncertainty created by the US-China tariff war and the fact that the US inflation rate was below the Fed’s 2% target.

The Labor Department announced that nonfarm payrolls increased by 130,000. This was in part due to the hiring of Census workers, and was below market expectations. The unemployment rate stayed at 3.7%. U-6, a broader measure, rose to 7.2% from 7.0% as a result of an increase of 397,000 for people working part-time for economic reasons. Wage growth remained steady, and slightly improving. Average hourly earnings increased by 0.4% for the month and 3.2% for the year.

NAR released data on their pending home sales index for July, which fell to 105.6 from 108.3, a 2.5% fall on the month and 0.3 % year on year. Pending sales represent homes that have a signed contract to purchase on them but have yet to close. They tend to lead Existing-Home Sales data by 1 to 2 months. 

The slightly disappointing nonfarm payrolls number saw yields on US Treasuries fall slightly after having risen during the week. The yield on the 2-Year was around 1.53%; the 5-Year around 1.42%; the 10-Year around 1.55%; the 20-Year around 1.83%, and the 30-Year around 2.02%.

The stock markets closed the week higher, with the Dow Jones Industrial Average up 398.18 at 26,797.46; The S&P 500 up 52.25 at 2,978.71, and The Nasdaq Composite up 140.19 at 8,103.07.

Sean Baguley.

Information in the post is drawn from the Sedona Verde Valley Association of Realtors Multiple Listing Service and other public sources believed to be reliable, but not guaranteed. Any opinions expressed are solely those of the author and in no way reflect the views of Better Homes and Gardens Real Estate BloomTree Realty.