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 ...
Click Here for All Articles
From Date       To Date

News Article From: 06-19-2006

The first article, How low will it go?, Home prices may dip 10% as fear grips Valley market, from the Arizona Republic, reports that some economists and housing analysts are saying that the housing market slowdown may continue for the next six months, possibly pulling down home values as much as 10 percent before it's done. No one is calling for the Valley's housing market to crash as it did in the 1990's because the rest of the area's economy is so strong now. "An adjustment in the Phoenix-area real estate market will be painful," said national housing analyst Barbara Allen of Avondale Partners. "The good news is because of Phoenix's continued growth, the market won't need to go down that much more to adjust." The concerns revolve around the number of homes currently on the market, the investor impact, higher mortgage rates and home prices. The good news is that metro Phoenix is expected to add 100,000 jobs and 135,000 new residents this year. In 2003, 3.2 percent of all Valley homes were on the market. Now it stands at 3.6 percent, so its getting back to the normal market conditions we saw in 2003. We just need to burn through the existing inventory and the market will adjust.

Invest With Leonid © 2007
A CompuGor Website