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: 07-10-2013

ASU: Phoenix-area home prices still surging as inventory remains low The median single-family home price for all Phoenix-area homes for May was up nearly 26% from a year ago to $185,000, according to ASU's monthly housing report. The median price for existing homes was up by 12.6% from last year to $198,100, while new home prices saw an 18% jump to $265,049. Foreclosure starts for both single-family homes and condos throughout Maricopa and Pinal counties dropped 15% from April and plunged a whopping 67% from last year. In actual figures, that's 1,636 foreclosure starts in May. A "normal" level of foreclosure starts, based on the current population, is around 1,425. Read article - Phoenix Business Journal Don't Let Credit Checks Derail Buyers Buyers may want to purchase furniture to outfit their new home prior to closing. But if they're not careful, they could cause delays in closing or even lose their home loan. Fannie Mae mandates that lenders recheck a borrower's credit prior to closing on a mortgage. If anything new arises in the credit re-check, lenders may want to delay the closing to verify the borrower can still afford the mortgage. In some cases, the lenders may even cancel the mortgage prior to closing. Read article - Realtor Magazine
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