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: 12-13-2007

Phoenix home resales slowed to crawl in November, an article from The Arizona Republic, reports that the median price in the Phoenix area fell 7% to $240,000 in November, compared with $259,000 last year, according to Arizona State University's Realty Studies.  Home sales in November suffered a 35% drop with only 3,280 sales, compared with 5,040 a year earlier.  Jay Butler, director of the center said, "When there is a lot of uncertainty, people become reluctant to make major commitments."  In mature neighborhoods close to freeways, stores and schools, sales prices are remaining stable or increasing, he said.  One bright spot is that homes continue to get more affordable.  The market for houses priced at $200,000 also continues to increase.  The percentage of homes sold in that price range increased from last year's 16% to 29% in November.   
Tougher Standards Drive Up the Cost of Homeownership, an article from Realtor Magazine Online, reports that even borrowers with excellent credit are beginning to feel the pinch of the mortgage crisis.  Fannie Mae, followed closely by Freddie Mac, has imposed an extra 0.25% upfront charge on all new mortgages that it buys or guarantees.  According to Fannie Mae, the new fee is needed "to ensure that what we charge aligns with the risk we bear."  The National Association of Home Builders said the fee is "a broad tax on homeownership" because more than 40% of all mortgages outstanding are owned or guaranteed by Fannie or Freddie.
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