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: 06-12-2009

Investors not flipping houses, but renting, an article from azcentral.com, reports that deals on bank-owned homes are driving investor purchases and account for 50 to 70 percent of recent home purchases, according to some experts.  It's the ability to generate revenue by renting the homes to tenants that makes the properties such attractive investments.  However, there are concerns that the rental market might become oversaturated.  Investors have helped fix up many homes and prevented many neighborhoods from becoming littered with abandoned homes.  "Homes are being bought, neighborhoods are recovering," said Chaz Smith, senior vice president of the LandSource Group at Colliers International in Phoenix.  "Imagine this market today without investor activity." 
Bond Yields Push Mortgage Rates to Highest Level in Seven Months, an article from Realty Times, reports that the 30-year fixed-rate mortgage averaged 5.59% with an average 0.7 point for the week ending June 11, 2009, according to Freddie Mac's Primary Mortgage Market Survey.  Last week, it averaged 5.29%, and a year ago it was 6.32%.  "Mortgage rates followed the increase in bond yields this week as the May employment report showed that the economy lost fewer jobs than the market consensus had expected," said Frank Nothaft, Freddie Mac vice president and chief economist. 
Senators Want Homebuyer Tax Credit to Rise to $15,000, an article from Bloomberg.com, reports that lawmakers are pushing to increase the tax credit for first-time homebuyers to $15,000.  Additionally, they would like to expand the program to include all borrowers and remove income and other restrictions on who can qualify.  The bill was introduced this week by Senator Johnny Isakson, a Georgia Republication and is co-sponsored by Senate Banking Committee Chairman Christopher Dodd, a Connecticut Democrat, as well as a number of other members of the Senate.
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