Archive for November, 2012

Rising Prices Could Lift 3.5M Homeowners Out of Negative Equity

Friday, November 30th, 2012 azrealtycom No Comments »

While almost one-quarter of homeowners remain underwater, rising home prices over the past year have some economists hopeful negative equity could begin to diminish in coming months. “The negative equity problem is still crippling many homeowners and the wider economy,” Capital Economics stated in a report. In addition to the almost one-fourth of homeowners who […]

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What’s Really Driving the Rise in Home Prices?

Thursday, November 29th, 2012 azrealtycom No Comments »

The Wall Street Journal recently cited five significant factors behind the rise in home prices, as numerous markets see significant year-over-year gains. The big price drives are: 1. The rise in housing affordability – which is drawing more buyers out into the market who are looking to cash in on low mortgage rates and fallen home […]

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Where Asking Prices Are on the Rise the Most

Thursday, November 29th, 2012 azrealtycom No Comments »

California metros, as well as hard-hit housing markets such Phoenix and Seattle, are showing some of the largest year-over-year increases in asking prices. Nationwide, the median list price was $191,500 in September, only about 0.78 percent higher than a year ago, according to the most recent housing data release from Realtor.com. But in several metros […]

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Rents Keep Rising

Wednesday, November 28th, 2012 azrealtycom No Comments »

Rents are forecasted to rise nationally 4.6 percent next year, and that’s following a 4.1 percent increase this year, according to the National Association of REALTORS®. What’s more, rents are expected to continue to climb for the foreseeable future, rising more than 4 percent a year for 2014 and 2015, forecasts Reis, a market research […]

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Home Shoppers Reveal Preferences in Old vs. New

Tuesday, November 27th, 2012 azrealtycom No Comments »

What do home shopper prefer about new homes versus older homes? A study commissioned by BHI Inc. examined consumer preferences in new homes versus existing homes among 984 prospective buyers who plan to purchase a home within the next 12 months. The survey found that consumers generally prefer existing homes over new homes, but many […]

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Phoenix – One of the Top 8 Markets Where Homes Are Selling the Fastest

Tuesday, November 27th, 2012 azrealtycom No Comments »

The median age of inventory of for-sale homes has dropped nearly 12 percent compared to year-ago levels, according to October housing data from Realtor.com. With inventories shrinking nationwide and hovering at historic lows, homes are selling faster in many parts of the country. “Lower inventories, combined with somewhat higher median list prices, suggest that the […]

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Phoenix, Arizona home price gains lead the nation (again)

Tuesday, November 27th, 2012 azrealtycom No Comments »

Not so surprisingly, yet another national housing report — this time from the Federal Housing Finance Agency — has determined that home price gains this year in both metro Phoenix and Arizona have once again far outpaced the rest of the country. The FHFA data released Tuesday shows Arizona landed the No. 1 spot for […]

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Nov 2012 ARMLS® Subscriber Confidence Index™

Tuesday, November 27th, 2012 azrealtycom No Comments »

Similar to the Consumer Confidence Index published by the Conference Board, the relevance of the SCI lies in being the only economic indicator derived from the firsthand, up close observations of REALTORS® who operate at the front line of real estate in the Valley. All three indices headed downward in November, perhaps as a reaction to […]

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November 24, 2012

Tuesday, November 27th, 2012 azrealtycom No Comments »

Metro Phoenix Housing¹ Market Snapshot November 24, 2012 City Active Pending Sales DOM² Avg $/SF Anthem 163 66 56 57 $106.62 Chandler 776 443 364 59 $116.59 Fountain Hills 209 55 64 82 $145.40 Gilbert 868 566 386 49 $106.18 Glendale 723 509 303 49 $87.61 Laveen 177 143 78 61 $64.70 Maricopa 615 195 […]

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Phoenix Among Best Cities For Veterans

Tuesday, November 27th, 2012 azrealtycom No Comments »

Top spots for veterans 1. Pittsburgh 2. Phoenix 3. Dallas 4. Cleveland 5. Atlanta 6. Warren, Mich. 7. Ann Arbor, Mich. 8. Cincinnati 9. Columbus, Ohio 10. St. Louis Phoenix ranks among the nation’s best cities for helping veterans make the transition back to civilian life, according to a study that evaluated job and education […]

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