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: 09-12-2006

The first article, Prices of homes slip again, from the Arizona Republic, reports that Valley homes prices dipped again in August, even falling below last year's levels in some areas. The median sales price fell to $262,500, a drop from July's median price of $264,900. The numbers were released by the Arizona Real Estate Center at ASU. Jim Rounds, a senior economist with Elliott D. Pollack & Co's., said price declines in many parts of metropolitan Phoenix are just beginning and could continue until early 2007. And he said new home price reductions are right around the corner as the housing market's oversupply issue is corrected. Last month, 5,685 existing homes sold in the Valley, up slightly from the 5,545 resales in July, but down from the 10,700 recorded in August 2005. For the first eight months of 2006, there were 47,515 used-home sales Valley-wide, down from 78,935 for the same period in 2005. The article states that the current housing market problems were caused by the investor-buyer frenzy last year. The numbers this year reflect numbers we saw in the more normal 2003 market.


The second article, Home sales remain on reduced pace in August, from the Phoenix Business Journal, also reports on the numbers released by the Arizona Real Estate Center at ASU. It states that 14 percent of all recorded sales were priced from $125,000 to $199,999; 44 percent were priced from $200,000 to $299,999; and 36 percent were priced over $300,000. The townhome/condo sales also dropped to 1,100 units sold. In August 2005, 1,975 townhome/condo units sold. The median price of a townhome/condo also fell from $179,000 in July to $170,000 in August.


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