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: 12-04-2006

The first article, With 25,000 spec homes, now may be the time to buy, from the Arizona Republic, reports that as many as 40 percent of the contracts on all new homes in the Valley during 2005 and early this year have fallen through. That translates to 25,000 spec homes, according to a new survey from housing analyst RL Brown. Many new home deals fell apart because buyers couldn't sell existing homes, but there also were many investors who pulled out of new-home deals after seeing they couldn't flip the homes for hefty profits. Now builders are offering huge incentives to get the inventory sold. So if you looking for the best deal on a new home, it might be now. Housing analysts also

say supply and demand in the resale market has to get back in sync before the home building market will rebound. Realty Executives President John Foltz said many of his agents ask where all the home buyers are in this "buyers market". His answer: "They're living in overpriced listings."




The second article, Arizona knocks off Nevada as top job market, from the Phoenix Business Journal, reports that Arizona knocked Nevada out of the top spot in job growth for October with a gain of 4.7 percent, or 121,200 jobs, since October of 2005. Among metropolitan markets with a work force of more than 1 million, the Phoenix area retained the top position in nonagricultural employment for October 2006 over October 2005, with a 5.2 percent gain, representing 94,500 jobs. Overall, the US economy grew by 1.92 million nonagricultural jobs from October 2005 to October 2006-- a 1.4 percent increase.



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