February 2013

Metro Phoenix Housing Market Snapshot
February 28, 2013
All Area TODAY LAST MONTH LAST YEAR 2 YEARS AGO
2/28/2013 1/31/2013 2/28/2012 2/28/2011
Active listing 21,495 21,911 23,457 40,116
Pending Listing 10,700 9,942 12,156 12,447
Sales Per Month 6,724 6,043 7,488 7,575
Monthly Supply 3.2 3.6 3.2 5.4
Monthly Sales $/SF $112.02 $108.64 $88.69 $81.98
Sale Price vs Listing Price 97.17% 97.09% 96.31% 95.33%
Listing Success Rate 78.10% 72.90% 78.80% 64.70%
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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USAA to Expand Campus and to Hire 1,000 More in 2014

USAA, a financial services and insurance provider to military service members and their families, plans on hiring as many as 1,000 new workers and will add 380,000 square feet to its north Phoenix campus in the years of 2014 and 2015.

The available positions will include customer service and claims representatives, information security specialists as well as business and financial analysts and other banking and insurance positions.

USAA has 16,400 workers already in San Antonio where is the head quarter and 3,000 in Phoenix.

USAA’s Phoenix campus is in the Norterra area of the north Valley near Happy Valley Road and Interstate 17. The company already has a six-building campus at Norterra totaling 645,000 square feet.

Even though USAA’s expansion will not happen until 2014, it helps to boost the sellers’ confidence already. With the projected demand on the raise, sellers tend to hold on to their properties for higher prices.

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GM to Open Chandler Innovation Center in 2014

General Motors announced today it has selected Chandler as the site of its fourth Information Technology Innovation Center, with plans to hire 1,000 high-wage employees and invest $21 million in the new facility, planned to open early next year.

The future Chandler facility will join Innovation Centers in Warren, Mich., Austin and Roswell, Georgia. GM will take temporary space in west Chandler immediately, and will build the facility in the Price Corridor near the intersection of Loop 101 and 202.

From the real estate prospective, the 1,000 high-wage job opportunities will create additional housing demand in the 85286 and 85248 neighborhood. In other words, the Ocotillo area in South Chandler is once again the beneficiary of GM’s 21 million investment.

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