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Phoenix Housing Market Showing Steady Signs of Recovery
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You're Now Reading:
Phoenix Housing Market Showing Steady Signs of Recovery
The Easy Way to Shop For a Mortgage Loan
Fill Out One Questionnare
Receive Multiple Offers. Save Money.
The Easy Way to Shop For a Mortgage Loan
Fill Out One Questionnare
Receive Multiple Offers. Save Money.
You're Now Reading:
Phoenix Housing Market Showing Steady Signs of Recovery
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March 8, 2012 (Shirley Allen)

The Phoenix housing market continued to show signs of a recovery in January as new and existing home sales posted their best numbers since 2009 and 2006, respectively, and home prices were up year-over-year for the second consecutive month according to the latest housing data released from DataQuick.

A total of 7,123 new and existing homes and condos closed escrow in the Maricopa-Pinal counties area in January. Sales were 17.9 percent lower than in December but were still 3.2 percent higher than the number of homes sold in January of 2011.

Home sales typically decline 21.7 percent between December and January and were only 3.1 percent below the average number of homes typically sold in January.

New homes sales were 31.3 percent higher than in the same month last year, their highest since January 2009, but were still well below what is average for the month. Sales of existing homes were 17.5 percent higher than the January average and made their best showing for the month since 2006.

Cash buyers accounted for 45.8 percent of all purchases in January, up from 41.0 percent in December but down from 46.0 percent a year earlier. The record for cash purchases was in February 2011, when 48 percent of the sales were for cash.

The price that cash buyers paid for their purchases increased to $97,700 in January, which was up slightly from $94,900 in December and $88,854 in January of 2011.

The overall median price paid for new and resale homes and condos in January was $127,500, down 1.2 percent from December but 7.1 percent higher than in January of last year. It was the second consecutive month that home prices have increased year-over-year following 17 months of declines.

The current median price is 51.9 percent below the peak median price of $264,100 in June 2006.

Distressed property sales accounted for 52.1 percent of the re-sale market in January, with foreclosure sales accounting for 36.3 percent of all re-sales, down from 37.7 percent in December, and short sales accounting for 15.8 percent of all re-sales, down from 17.2 percent in December. Distressed property sales were at their lowest level since June 2008.

Foreclosures fell 9.2 percent from December to January and were down 41.3 percent from January of 2011.

Tags: existing home sales, Phoenix, distressed properties, resale homes, condos, cash buyers, investors, median price

Source:
DataQuick

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ADVANTAGES OF USING
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FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.
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Rates

March 8, 2012 (Shirley Allen)

The Phoenix housing market continued to show signs of a recovery in January as new and existing home sales posted their best numbers since 2009 and 2006, respectively, and home prices were up year-over-year for the second consecutive month according to the latest housing data released from DataQuick.

A total of 7,123 new and existing homes and condos closed escrow in the Maricopa-Pinal counties area in January. Sales were 17.9 percent lower than in December but were still 3.2 percent higher than the number of homes sold in January of 2011.

Home sales typically decline 21.7 percent between December and January and were only 3.1 percent below the average number of homes typically sold in January.

New homes sales were 31.3 percent higher than in the same month last year, their highest since January 2009, but were still well below what is average for the month. Sales of existing homes were 17.5 percent higher than the January average and made their best showing for the month since 2006.

Cash buyers accounted for 45.8 percent of all purchases in January, up from 41.0 percent in December but down from 46.0 percent a year earlier. The record for cash purchases was in February 2011, when 48 percent of the sales were for cash.

The price that cash buyers paid for their purchases increased to $97,700 in January, which was up slightly from $94,900 in December and $88,854 in January of 2011.

The overall median price paid for new and resale homes and condos in January was $127,500, down 1.2 percent from December but 7.1 percent higher than in January of last year. It was the second consecutive month that home prices have increased year-over-year following 17 months of declines.

The current median price is 51.9 percent below the peak median price of $264,100 in June 2006.

Distressed property sales accounted for 52.1 percent of the re-sale market in January, with foreclosure sales accounting for 36.3 percent of all re-sales, down from 37.7 percent in December, and short sales accounting for 15.8 percent of all re-sales, down from 17.2 percent in December. Distressed property sales were at their lowest level since June 2008.

Foreclosures fell 9.2 percent from December to January and were down 41.3 percent from January of 2011.

Tags: existing home sales, Phoenix, distressed properties, resale homes, condos, cash buyers, investors, median price

Source:
DataQuick

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
HOW
MORTGAGELOANRATEUPDATE
WORKS
Whether you're looking to refinance your current loan, purchasing a new home or looking for a home equity loan, we make it easy at MortgageLoanRateUpdate. Our questionnaire is simple and quick to use and your information is safely transmitted to us with SSL encryption. With just two minutes of your time, you could have multiple lenders competing for your business which could save you thousands.
ADVANTAGES OF USING
MORTGAGELOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.

March 8, 2012 (Shirley Allen)

The Phoenix housing market continued to show signs of a recovery in January as new and existing home sales posted their best numbers since 2009 and 2006, respectively, and home prices were up year-over-year for the second consecutive month according to the latest housing data released from DataQuick.

A total of 7,123 new and existing homes and condos closed escrow in the Maricopa-Pinal counties area in January. Sales were 17.9 percent lower than in December but were still 3.2 percent higher than the number of homes sold in January of 2011.

Home sales typically decline 21.7 percent between December and January and were only 3.1 percent below the average number of homes typically sold in January.

New homes sales were 31.3 percent higher than in the same month last year, their highest since January 2009, but were still well below what is average for the month. Sales of existing homes were 17.5 percent higher than the January average and made their best showing for the month since 2006.

Cash buyers accounted for 45.8 percent of all purchases in January, up from 41.0 percent in December but down from 46.0 percent a year earlier. The record for cash purchases was in February 2011, when 48 percent of the sales were for cash.

The price that cash buyers paid for their purchases increased to $97,700 in January, which was up slightly from $94,900 in December and $88,854 in January of 2011.

The overall median price paid for new and resale homes and condos in January was $127,500, down 1.2 percent from December but 7.1 percent higher than in January of last year. It was the second consecutive month that home prices have increased year-over-year following 17 months of declines.

The current median price is 51.9 percent below the peak median price of $264,100 in June 2006.

Distressed property sales accounted for 52.1 percent of the re-sale market in January, with foreclosure sales accounting for 36.3 percent of all re-sales, down from 37.7 percent in December, and short sales accounting for 15.8 percent of all re-sales, down from 17.2 percent in December. Distressed property sales were at their lowest level since June 2008.

Foreclosures fell 9.2 percent from December to January and were down 41.3 percent from January of 2011.

Tags: existing home sales, Phoenix, distressed properties, resale homes, condos, cash buyers, investors, median price

Source:
DataQuick

Home Buying Tips
Home Selling Tips
About
Mortgages
HOW
MORTGAGELOANRATEUPDATE
WORKS
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at MortgageLoanRateUpdate and the offers you have received, you've found the right product and the best rate.
ADVANTAGES OF USING
MORTGAGELOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT
CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.