Weekly Update. November 2nd, 2019.
November 2nd to 4th, The Sedona International Film Festival is proud to team up with the Jewish Community of Sedona and the Verde Valley to present the Eighth Annual Sedona Jewish Film Festival. The program will feature five award-winning feature films from around the world. Admission: $12 general admission; $9 for film festival members. Check the website for times. Mary D Fisher Theatre, 2030 W State Route 89A, Ste A3, Sedona. For more information, call Patrick Schweiss on (928) 282-1177.
This Sunday, November 3 2019, learn The Rich Natural History of Red Rock State Park. State Parks are educational oases for anyone interested in nature. Our discussion will focus on aspects of botany, geology, and zoology that can be found at Red Rock State Park. Topics treated will range from the majesty of the red rocks to the beauty of riparian-zone trees and flowers to the diversity of animal life. There is a lot to see and enjoy. Ken Bork is a Sedona resident, a paleontologist, and historian of geology. Admission: Included with park admission fee $7 per adult (14+) 4$ per youth (7-13). Time: 2:00 PM to 3:30 PM. Red Rock State Park Center for Environmental Education, 4050 Red Rock Loop Rd Sedona. For more information, call (928) 282-6907.
Veteran’s Day Tribute. On November 11, 2019 at 11:00 AM, join us in celebrating Sedona's local veterans at this premier tribute at the Sedona Heritage Museum, 735 Jordan Rd, Sedona. or more information, call (928) 282-7038.
Real Estate Information - Sedona Single Family Residential Homes ONLY.
All the Averages are for 1 year, and this week's numbers are,
New Listings:         11    Average: 18.3  (New Listings; Back on Market) 
Under Contract:     24    Average: 22.0  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:      16     Average:  9.3  (Sold; Closed Escrow) 
Off Market:               7     Average:   5.5  (Canceled; Expired; Temporary Off Market)
Price Reductions:        22     Average  11.7
Price Increases:             1     Average    0.7
 
Contract Ratio:  36.00. The average over the last year is 33.70. 
The Average Price per Square Foot of homes that are Under Contract was $289.91 per square foot. The yearly moving average is $303.46 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $282.75 per square foot.
The Labor department announced that Nonfarm payrolls increased by 128,000 in October as the U.S. economy continued to create jobs at a pace well above expectations. Despite the reduction 42,000 in the motor vehicles and parts industry, due to the now settled General Motors strike, the pace of new jobs exceeded market estimates. Jobs growth data for September and August was also revised upwards. September’s number was revised up to 180,000 from 136,000, and the August number was revised to 219,000 from 168,000.
The Institute for Supply Management announced that their Manufacturing Purchasing Managers Index rose to 48.3% in October, compared to 47.8% in September. The numbers were negatively impacted by the General Motors strike. A number below 50% represents a contraction in industry.
The positive news on the employment front saw a strong surge in the Stock Markets. At the end of the week, The Dow Jones Industrial Average closed up at 27,347.36, The S&P 500 up at 3,066.91, and The Nasdaq Composite up at 8,386.40.
As is normal in these situations, US Treasury yields also rose after the jobs report. The 2-Year closed around 1.56%; the 5-year around 1.55%; the 10-Year around 1.73%; the 20-Year around 2.03%, and the 30-Year round 2.21%.
The National Association of Realtors® (NAR) announced that its Pending Home Sales Index (PHSI) rose to 108.7 in September from 107.3 in August, a gain of 1.5%. The results were 3.9% higher than in August 2018 and marked the fourth time the index increased in the last five months. The PHSI, a measure of contracts signed for the purchase of existing homes, is a leading indicator of future sales. Contracts are generally expected to become final within one to two months. The PHSI increased by 1.6% in August.
Realogy Holdings Corp. has announced an agreement to create a new real estate benefits program for AARP members. Expected to launch nationally in early 2020, this will be the first-ever real estate services program designed for the nearly 38 million AARP members. The new offering will allow AARP members to earn a cash back reward or bonus, in States where this is allowed, when they buy or sell a home with one of Realogy’s residential real estate brands, including Better Homes and Gardens® Real Estate.
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. November 2nd, 2019.

November 2nd to 4th, The Sedona International Film Festival is proud to team up with the Jewish Community of Sedona and the Verde Valley to present the Eighth Annual Sedona Jewish Film Festival. The program will feature five award-winning feature films from around the world. Admission: $12 general admission; $9 for film festival members. Check the website for times. Mary D Fisher Theatre, 2030 W State Route 89A, Ste A3, Sedona. For more information, call Patrick Schweiss on (928) 282-1177.

This Sunday, November 3 2019, learn The Rich Natural History of Red Rock State Park. State Parks are educational oases for anyone interested in nature. Our discussion will focus on aspects of botany, geology, and zoology that can be found at Red Rock State Park. Topics treated will range from the majesty of the red rocks to the beauty of riparian-zone trees and flowers to the diversity of animal life. There is a lot to see and enjoy. Ken Bork is a Sedona resident, a paleontologist, and historian of geology. Admission: Included with park admission fee $7 per adult (14+) 4$ per youth (7-13). Time: 2:00 PM to 3:30 PM. Red Rock State Park Center for Environmental Education, 4050 Red Rock Loop Rd Sedona. For more information, call (928) 282-6907.

Veteran’s Day Tribute. On November 11, 2019 at 11:00 AM, join us in celebrating Sedona's local veterans at this premier tribute at the Sedona Heritage Museum, 735 Jordan Rd, Sedona. or more information, call (928) 282-7038.

Real Estate Information - Sedona Single Family Residential Homes ONLY.

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

New Listings:         11    Average: 18.3  (New Listings; Back on Market) 
Under Contract:     24    Average: 22.0  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:     16     Average:  9.3  (Sold; Closed Escrow) 
Off Market:               7     Average:   5.5  (Canceled; Expired; Temporary Off Market)

Price Reductions:        22     Average  11.7
Price Increases:             1     Average    0.7 

Contract Ratio:  36.00. The average over the last year is 33.70.
 
The Average Price per Square Foot of homes that are Under Contract was $289.91 per square foot. The yearly moving average is $303.46 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $282.75 per square foot.

The Labor department announced that Nonfarm payrolls increased by 128,000 in October as the U.S. economy continued to create jobs at a pace well above expectations. Despite the reduction 42,000 in the motor vehicles and parts industry, due to the now settled General Motors strike, the pace of new jobs exceeded market estimates. Jobs growth data for September and August was also revised upwards. September’s number was revised up to 180,000 from 136,000, and the August number was revised to 219,000 from 168,000.

The Institute for Supply Management announced that their Manufacturing Purchasing Managers Index rose to 48.3% in October, compared to 47.8% in September. The numbers were negatively impacted by the General Motors strike. A number below 50% represents a contraction in industry.

The positive news on the employment front saw a strong surge in the Stock Markets. At the end of the week, The Dow Jones Industrial Average closed up at 27,347.36, The S&P 500 up at 3,066.91, and The Nasdaq Composite up at 8,386.40.

As is normal in these situations, US Treasury yields also rose after the jobs report. The 2-Year closed around 1.56%; the 5-year around 1.55%; the 10-Year around 1.73%; the 20-Year around 2.03%, and the 30-Year round 2.21%.

The National Association of Realtors® (NAR) announced that its Pending Home Sales Index (PHSI) rose to 108.7 in September from 107.3 in August, a gain of 1.5%. The results were 3.9% higher than in August 2018 and marked the fourth time the index increased in the last five months. The PHSI, a measure of contracts signed for the purchase of existing homes, is a leading indicator of future sales. Contracts are generally expected to become final within one to two months. The PHSI increased by 1.6% in August.

Realogy Holdings Corp. has announced an agreement to create a new real estate benefits program for AARP members. Expected to launch nationally in early 2020, this will be the first-ever real estate services program designed for the nearly 38 million AARP members. The new offering will allow AARP members to earn a cash back reward or bonus, in States where this is allowed, when they buy or sell a home with one of Realogy’s residential real estate brands, including Better Homes and Gardens® Real Estate.

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.