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: 02-15-2013

Friday, February 15, 2013 




Arizona's mortgage delinquencies rate falls to 5.18%
Arizona's gradual housing recovery has entered a new phase, with mortgage delinquencies here no longer elevated compared with the rest of the nation.  Arizona mortgages 60 or more days past due fell to 5.18% in the fourth quarter from 7.5% one year earlier.  Nationally, past-due mortgages eased to 5.19% from 5.41% at the end of 2011.  Average Arizona mortgage balances also dropped notably, to $189,900 from $197,319 one year earlier.


Read article - azcentral.com 




Billionaire Goes on Home-Buying Spree
Billionaire B. Wayne Hughes is buying up about 10,000 single-family homes to turn into rentals.  Hughes has purchased the properties through his American Homes 4 Rent.  It's now the second-biggest owner of single-family rentals (behind only Stephen Schwarzman's Blackstone Group).  Hughes incorporated American Homes 4 Rent last year as a non-public REIT to fund his venture into the single-family rental business.  The American Homes 4 Rent is expecting about 6-7% return on the rents.
Read article - Realtor Magazine


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