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: 08-16-2006

The first article, Home sales slowdown seen spreading, from MSNBC.com, reports that the slowdown in the once sizzling housing market is spreading, with 28 states and the District of Columbia reporting spring sales declines, led by big drops in former boom areas of Arizona (down almost 27 percent), Florida and California. Nationally, sales were down 7 percent from April through June compared with the same period in 2005, according to the report released by the National Association of Realtors. The report showed the biggest declines occurred in states that were enjoying red-hot sales during the five-year housing boom. In all, 20 states showed sales increases, led by Alaska, Arkansas, Texas, North Carolina and Vermont. In a separate survey of price changes in 151 metropolitan areas, the Realtors reported that 26 metro areas experienced outright price declines while 37 areas were still enjoying double-digit price increases.




The second article, Arizona leads nation in home sales decline, from the Phoenix Business Journal, also reports on the NAR report released yesterday stating that Arizona led the nation with a 27% decrease in sales for the second quarter 2006. It quotes Jay Butler, director of the Arizona Real Estate Center at ASU saying that Arizona's housing market is returning to the more normal levels reported in 2003, before the housing boom of 2004-2005, which was driven largely by investors.



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