June 15, 2013

Metro Phoenix Housing¹ Market Snapshot
June 15, 2013
City Active Pending Sales DOM² Avg $/SF
Anthem 139 82 89 54 $122.04
Chandler 647 452 433 48 $126.24
Fountain Hills 199 33 52 77 $188.11
Gilbert 778 520 533 46 $120.37
Glendale 509 523 426 41 $95.57
Laveen 161 126 95 52 $77.02
Maricopa 430 245 217 80 $62.23
Mesa 1,102 724 641 50 $106.28
Peoria 560 387 305 52 $109.49
Phoenix 2,974 1,996 1,820 48 $118.49
Queen Creek 710 476 394 67 $85.12
Scottsdale 1,700 525 565 98 $214.78
Tempe 196 141 159 58 $131.73
Note¹ – Housing = Single Family Homes, Note² – DOM = Days On Market
Data Source: Arizona Regional Multiple Listing Service (ARMLS)
For other cities or area, please call (480)292-8281 or email gchen@az-realty.com
Above data was compiled by Gary Chen, Associate Broker, ABR, CIAS, CNE, SFR
Original data complied by The Cromford Report
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Mortgage Rates Climb to Highest Level in Year

Fixed-rate mortgages soared higher this week, reaching their highest averages in a year, Freddie Mac reports in its weekly mortgage market survey.

The 30-year fixed-rate mortgage — the most popular choice among home buyers — has climbed nearly half a percentage point since the beginning of this month — from 3.35 percent to 3.81 percent this week.

“Fixed mortgage rates followed long-term government bond yields higher, following a growing market sentiment that the Federal Reserve may lessen its accommodative policy stance,” says Frank Nothaft, Freddie Mac’s chief economist. “Improving economic data may have encouraged those views.”

Despite the uptick, mortgage rates remain low by historical standards, Freddie Mac reports.

The mortgage giant reports the following national averages with mortgage rates for the week ending May 30:

  • 30-year fixed-rate mortgages: averaged 3.81 percent, with an average 0.8 point, rising from last week’s 3.59 percent average. A year ago at this time, 30-year rates averaged 3.75 percent.
  • 15-year fixed-rate mortgages: averaged 2.98 percent, with an average 0.7 point, rising from last week’s 2.77 percent average. Last year at this time, 15-year rates averaged 2.97 percent.
  • 5-year adjustable-rate mortgages: averaged 2.66 percent, with an average 0.5 point, also up from last week’s average of 2.63 percent. Last year at this time, 5-year ARMs averaged 2.84 percent.
  • 1-year ARMs: averaged 2.54 percent, with an average 0.5 point, dropping from last week’s 2.55 percent average. A year ago, 1-year ARMs averaged 2.75 percent.
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May 2013

Metro Phoenix Housing Market Snapshot
May 31, 2013
All Area TODAY LAST MONTH LAST YEAR 2 YEARS AGO
5/31/2013 4/30/2013 5/31/2012 5/31/2011
Active listing  19,500 19,857 20,175 31,224
Pending Listing 9,710 10,862 11,605 13,391
Sales Per Month  9,133 8,889 8,487 10,100
Monthly Supply 2.3 2.3 2.5 3.2
Monthly Sales $/SF $119.32 $116.62 $101.60 $83.05
Sale Price vs Listing Price  97.33% 97.32% 97.15% 96.02%
Listing Success Rate  80.20% 79.00% 77.90% 71.00%
Data Source: Arizona Regional Multiple Listing Service (ARMLS)
For other cities or area, please call (480)292-8281 or email gchen@az-realty.com
Above data was compiled by Gary Chen, Associate Broker, ABR, CIAS, CNE, SFR
Original data complied by The Cromford Report
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