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: 10-31-2006

The article, Housing market could bottom out in six months, survey says, from the Phoenix Business Journal, reports that according to Metrostudy's latest report on our local real estate market, the housing market could bottom out during the next six months. "Cutbacks in new production, aggressive incentives by sellers, the exit of the majority of investors and the fundamental demographic support for housing demand are positive indicators for a housing turnaround in mid-2007," said Mike Inselmann, president of Metrostudy. "The Federal Reserve has ended its series of rate increases, and mortgage rates have dropped notably in the last few months." Phoenix continues to have one of the nation's strongest economies, said Ben Sage, director of Metrostudy's Arizona division. Even though job growth declined from a peak of more than 100,000 new jobs for the 12 months ending September 30, 2005, the 91,900 jobs posted at the end of September 2006 puts the state at the top of the nation, he said. The Phoenix area posted an annual rate of 54,747 home starts at the end of the third quarter, a decline of 12 percent from the record 62,000 starts recorded at the end of the first quarter of 2006, according to the firm's latest quarterly report.



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