Archive for Arizona real estate
Highlights of Phoenix Metro Real Estate Market in 2009
Posted by: | Comments- Listing volume down 15% from 162,000 (2008) to 147,000 – Those Sellers in the market are much more realistic and ready to sell
- Sales volume jumped 55% over 2008 – up 60,000 units to over 93,000
- Median Sales Prices for 2009 are down 11.5% (8% for Average Sales Price) - Positive news because 2008 saw a severe drop of 37%!
- Total Sales Volume increase of 35% – Up from 11.6 billion in 2008 to 15.7 billion in 2009 – This was the first rise in FOUR YEARS!
Information from ARMLS (Arizona Regional Multiple Listing Service)
First Quarter 2007 Ranks Arizona at 25 with a annual 5.22% appreciation
Posted by: | CommentsI just read the latest statistical report from OFHEO (Office of Federal Housing Enterprise Oversight) and it’s always nice to read good news about Arizona real estate. Now, granted, the news isn’t as good as it is for Utah, Idaho or Washington – but we had our day. If you have held property for the last five years, you experienced 93.76% appreciation and if you are an oldtimer (since 1980), then you have seen 332.35% increase. Let’s keep things in perspective – not bad! Arizona currently ranks as number 25 with a .13 % appreciation for the first quarter of 2007 and an annual appreciation (2nd Q 2006 - 1st Q 2007) of 5.22%.
The housing market is never static in the United States and this report just shows how varied it can be. Seven states show double digit appreciation while seven other states had less than 2% appreciation and even some depreciation.
First all the good news:
- Nationally, home prices grew faster over the past year than did prices of non-housing goods and services reflected in the Consumer Price Index. House prices rose 4.3 percent, while prices of other goods and services, excluding shelter, rose 1.6 percent.
- The states with the greatest rates of appreciation between the first quarter of 2006 and the first quarter of 2007 were: Utah (17.0%), Idaho (12.3%), Montana (11.7%), Wyoming (11.7%), and Washington (11.6%).
- The Metropolitan Statistical Areas (MSAs) with the greatest rates of appreciation between the first quarter of 2006 and the first quarter of 2007 were: Wenatchee, Washington (25.6%), Provo-Orem, Utah (19.7%), and Salt Lake City, Utah (19.1%).
- Of the 20 cities with the greatest four-quarter appreciation, five are in Washington state.
- Utah’s three largest metropolitan areas (Salt Lake City, Provo-Orem, and Ogden-Clearfield) were among the five fastest appreciating cities in the U.S.
Now – the bad news:
- The states with the lowest rates of appreciation for the same period were: Michigan (-0.7%), Massachusetts (-0.6%), Nevada (0.6%), Ohio (0.8%), and New Hampshire (1.1%).
- The MSAs with the lowest rates of appreciation for
the same period were: Punta Gorda, Florida (-4.6%), Sacramento-Arden-Arcade-Roseville, California (-4.4%), and Modesto, California (-4.4%).
One sure thing is that for most homeowners in the United States, the historic trend of housing, just like the stock market, goes up.
For more details about the OFHEO report, click here. For maps and the full ranking of U.S. cities, and states, click here.
First Quarter 2007 Ranks Arizona Appreciation #25
Posted by: | CommentsFirst Quarter 2007 Ranks Arizona at 25 with a annual 5.22% appreciation
I just read the latest statistical report from OFHEO (Office of Federal Housing Enterprise Oversight) and it’s always nice to read good news about Arizona real estate.
Now, granted, the news isn’t as good as it is for Utah, Idaho or Washington – but we had our day. If you have held property for the last five years, you experienced 93.76% appreciation and if you are an old timer (since 1980), then you have seen 332.35% increase. Let’s keep things in perspective – not bad! Arizona currently ranks as number 25 with a .13 % appreciation for the first quarter of 2007 and an annual appreciation (2nd Q 2006 – 1st Q 2007) of 5.22%.
The housing market is never static in the United States and this report just shows how varied it can be. Seven states show double digit appreciation while seven other states had less than 2% appreciation and even some depreciation.
First all the good news:
- Nationally, home prices grew faster over the past year than did prices of non-housing goods and services reflected in the Consumer Price Index. House prices rose 4.3 percent, while prices of other goods and services, excluding shelter, rose 1.6 percent.
- The states with the greatest rates of appreciation between the first quarter of 2006 and the first quarter of 2007 were: Utah (17.0%), Idaho (12.3%), Montana (11.7%), Wyoming (11.7%), and Washington (11.6%).
- The Metropolitan Statistical Areas (MSAs) with the greatest rates of appreciation between the first quarter of 2006 and the first quarter of 2007 were: Wenatchee, Washington (25.6%), Provo-Orem, Utah (19.7%), and Salt Lake City, Utah (19.1%).
- Of the 20 cities with the greatest four-quarter appreciation, five are in Washington state.
Now – the bad news:
- The states with the lowest rates of appreciation for the same period were: Michigan (-0.7%), Massachusetts (-0.6%), Nevada (0.6%), Ohio (0.8%), and New Hampshire (1.1%).
- The MSAs with the lowest rates of appreciation for the same period were: Punta Gorda, Florida (-4.6%), Sacramento-Arden-Arcade-Roseville, California (-4.4%), and Modesto, California (-4.4%).
One sure thing is that for most homeowners in the United States, the historic trend of housing, just like the stock market, goes up.
For more details about the OFHEO report, click here. For maps and the full ranking of U.S. cities, and states, click here.
11 Acres of Trust Land Will be Auctioned This Week
Posted by: | CommentsThe Arizona State Land Department announced the sale of 269 acres of land in the North Phoenix Desert Ridge area as the highest land sale in department history. Rightpath Limited Development Group purchased the parcel for $149.45 million, which is $555,535.00 per acre, and is planning to develop a residential community.
This comes as good news in our Arizona market as the last record land sale set in August 2005 when Toll Brothers and Pulte Homes also purchased land in the Desert Ridge area for $135 million.
Arizona State Land Commissioner Mark Winkleman proudly proclaimed, “This is a remarkable sales price and a milestone for the State of Arizona which sends a clear message that the market is strong and very interested in the lands Trust has to offer.” Read direct from State Land Commissiioner
March 2007 Home Sales Statistics for Scottsdale, Arizona and Phoenix Metro Area
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Real Estate Statistics show more homes are selling in Scottsdale, Arizona
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| If you are thinking of buying or selling a home in Scottsdale, Arizona, I’d like to offer you some good news for a change. But, to keep everything in its proper perspective, let’s take a look at the overall real estate statistics in the Scottsdale and Phoenix Metro area.
Home inventories in the Greater Phoenix Metro area are still high for a total of 48,811 homes for sale (condos not included). Although there were 5,479 homes that sold in the month of March, we are still left with an absorption rate of 8.9 months. “Absorption Rate” simply indicates the time it will take to sell the current inventory of homes based on the current rate of home sales. Obviously, this figure can change daily as more homes go on the market and the number of sales fluctuates. If you would like to sort through all the statistics, click here for more numbers Read More→ |