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: 11-20-2006

The article, Construction of housing falls to lowest rate since "00,
from the Arizona Republic, reports that housing construction of
single-family homes and apartments fell 14.6 percent in October to an annual
rate of 1.486 million units, the slowest pace since July 2000. Building
permits fell 6.3 percent to an annual rate of 1.535 million units, the
slowest pace in nine years. "A tornado hit the housing sector in October,"
said Joel Naroff, chief economist at Naroff Economic Advisors,a private
forecasting firm. "Builders have seen the light from the housing market
meltdown and are now moving as rapidly as possible to reduce supply." With
inventories of unsold new and existing homes near record levels, many
analysts said the slump was likely to last for many months, possibly until
the middle of next year. However, some analyst found hints of a turnaround.
A monthly survey of builder sentiment conducted by the National Association
of Home Builders was up in November for the second straight month, the first
back to back gains since mid 2005.


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