Found 3 blog entries tagged as Phoenix housing market update.

Phoenix realty market is still hot, but ending up being more balanced August 14, 2015. The Scottsdale Area Association of Realtors ® (SAAR) recently launched its monthly Market Data Report, which highlights vital metrics for residential housing inventory.

The number of homes currently listed for sale dropped again this month, making July the sixth continuous month of decreasing inventory in the Phoenix Valley. There is currently $7.7 billion in overall volume of homes for sale, $9.1 billion below this very same time only two years ago. Lack of property results in greater sales costs as more buyers compete for less available houses. Fortunately, the new listing count and brand-new listing volume increased somewhat from June, which might be an indication…

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Here is the latest housing market update release from the Arizona Regional Multiple Listing Service.  The numbers are reflective of many real estate markets throughout the country, showing rising prices and below normal inventory.  While this does have an upward pressure on prices, the numbers are not moving as fast as you might think.  When you look at average prices and average price per square foot, those price increases are only 1.2% and 0.46%.  While slow and steady is not all bad, the prices have not moved far enough to motivate investors or some owner occupant sellers to pull the trigger yet.  Read more information from the report below.  You can read the entire report and see all the charts HERE.

June stats for housing market number in the Greater Phoenix areaThe biggest change in homes financed occurred…

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ARMLS Phoenix Housing Market Update For March 2015

Freddie Mac introduced a new publicly-accessible tool last year called the Multi-Indicator Market Index, also known as MiMi. This tool monitors the stability of the nation's housing market using four individual metrics: home purchase applications, affordable housing analysis, mortgage delinquency / payment rates, and employment strength for each market. They said of Phoenix:

"The Phoenix housing market is defined as weak and declining."

MiMi is interesting but like other national reports, the information reported is not as timely as our locally reported data, for example their most recent report uses data from January. They're not wrong they're just slow. Our STAT report showed weak sales…

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