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: 10-11-2006

The first article, September slow for home resales, from the Arizona Republic, reports that the Valley resale market continued to slow in September as only 4,875 existing homes sold in the month, down from the 9,815 sales in September 2005. The median resale price fell to $256,900, down from $263,000 in September of 2005. The information was released yesterday by the Arizona Real Estate Center at ASU. The price drop is one of the reasons cited for skittish buyers staying on the sidelines. "The problem gets to be what is the incentive to move into the market," said Jay Butler, head of the Real Estate Center. "There are way too many listings, way too many homes for buyers to see," said Bridgette Gavagan of West USA's Arrowhead office. "It makes it hard for buyers to make a decision."




The second article, Median home price drops $20,000, from the Arizona Republic Ahwatukee, reports that the median resale price in Ahwatukee fell $15,000 from a year ago and now sits at $340,000. From September 2005 to last month, Ahwatukee sales dropped from 160 to 95. It was $354,950 in September 2005. Like much of the Valley, Ahwatukee Foothills had a "good percentage of investor homes", noted Jay Butler. Butler said he doesn't expect the Valley's housing market to improve soon. "We probably aren't going to see much changes coming. People don't really want to look for a home during the holiday season," he said. In Gilbert, the median price was $318,500, down from $320,000 in August and down from $325,000 in September 2005. In Chandler, the median resale price fell to $292,500 down from $308,000 in August and down from $295,000 in september 2005. In Mesa, prices dropped from $243,500 to $240,000 from September 2005.




The third article, Home resale prices continue to slump, from the Arizona Republic Scottsdale, reports that prices of existing homes dipped 3.1 percent in Scottsdale from August to September. About half as many homes and condos were sold in Scottsdale in September compared with a year ago. Investors might be getting nervous and dropping their prices, said Jay Butler. "The bet is we'll see further (price) erosion this year," he said of the Scottsdale market. Scottsdale's median price has ranged over the past year from $525,000 last December to a peak of $640,000 in June. Just over 3,600 homes have been sold in Scottsdale through September, down 47 percent for the same period a year ago, and condo sales have dropped 35 percent to 2,280.



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