Metro Phoenix housing market has best month in a decade April just might have been the best month for metro Phoenix's housing market in a decade. Foreclosures fell to the lowest level since 2006. Homebuilding continued to rebound. Phoenix kept its spot as one of most affordable big metro areas for ...
More Phoenix homeowners have equity now Fewer metro Phoenix homeowners are underwater now, according to CoreLogic. Approximately 19.5% of the Valley's homeowners owed more than their house is worth as of June 30, down from 21% at the end of this year's first quarter. At the worst of the housing cra ...
Phoenix-area home sales, prices cool in July In Metro Phoenix, both sales and prices dipped in July. Home sales fell 4.5% and the median home sales price inched down to $210,000 compared with June, according to the W.P. Carey School of Business at Arizona State University. The housing market's mode ...
Ariz. homebuilders offering deals New-home prices across metro Phoenix soared too high and too fast in 2012 and 2013 for many buyers to handle, leading to a slump in sales. Home prices have dropped slightly this summer, and builders are trying to lure buyers by offering incentives that include lowe ...
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News Article From: 10-04-2006

The first article, As housing market cools, home prices will dip, from MSNBC.com, reports that housing prices, slumping after a five year boom, are projected to fall in more than 100 of the nation's metropolitan areas, with the Northeast, Florida and California among the areas hardest hit, according to a new report from Moody's Economy.com, a private research firm. Moody's forecast that the median sales price for an existing home will decline by 3.6 percent in 2007. The 133 areas with slumping prices are concentrated in the states of California and Florida and the Northeast corridor from southern Maine to just south of Washington, D.C., as well as boom areas of Nevada and Arizona and some depressed sections of the Midwest such s Detroit. The report described the current environment as a "correction" and not a "crash", but it cautioned that there were downside risks that could make the slowdown more serious.




The second article, Mortgage applications jump in latest week as interest rates stay down, from the USA TODAY, reports that applications for home mortgages jumped last week by 11.9% from the previous week as mortgage rates remain low. The application level is the highest since January. Long-term, 30-year fixed-rate mortgages averaged 6.24% last week, up slightly from 6.18% the week before but still substantially below recent highs in July. Pending homes sales also rose 4.3% in August, the first increase since May, the National Association of Realtors said on Monday. The refinancing boom continues, as the refinancing share of mortgage activity last week increased to 46.7% of applications, the highest since February 2005.



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