Source: Wall Street Journal, by Nick Timiraos - 1/22/13 Home sales in December dropped by 1% from November, the National Association of Realtors reported on Tuesday, but still stood nearly 13% above the levels of one year ago. That means home sales have risen from the year-ago month for 18 straight months. For 2012 as a whole, sales were up 9% to 4.65 million units, the highest annual total since 2007. Prices, meanwhile, are picking up because the number of homes for sale continues to drop despite the … [Read more...]
U.S. Housing Prices
November 27, 2012 by Leave a Comment
The Phoenix real estate market is still red hot according to the latest data released by the S&P/Case-Shiller 20-city composite. The Phoenix real estate market was hit extremely hard when the housing bubble burst but we are now in the midst of an extraordinary comeback. Phoenix home prices have increased by 20.4% from the prior year, more than any other city in the nation. Click here to read the full article from MarketWatch. … [Read more...]
Low Inventory Creating Buyer Frustration
October 2, 2012 by Leave a Comment
Low inventories of homes for-sale are becoming troubling to home buyers, Inman News reports. Almost every major market in the U.S. has posted double-digit decreases in for-sale listings. "The buyers tend to become a little frustrated as they are seeing homes that they want to 'think about' and before they can even get home to discuss it there are already multiple offers on the property," Sheri Moritz, a real estate broker with Keller Williams' Wake Home Team in Raleigh, N.C., told Inman News. In Raleigh, … [Read more...]
First Time Home Buyers
July 18, 2012 by Leave a Comment
The timing for first time home buyers has never been better in Arizona. Mortgage rates are at all time lows, lenders are anxious to get back into the marketplace with loans, and new inventory continues to come to the market. Prices have started to increase on homes but are still very well priced. The Marsh Partners has provided a list that can assist in achieving your dream of your first home. And, with the digital technology and extensive web tools at our disposal, choosing a property and hiring a professional … [Read more...]
Mortgage Rates at an All-Time Low
July 15, 2012 by Leave a Comment
Record-breaking rates have once again reached new lows for 30-year and 15 year fixed rate mortgages. For the past 16 weeks, the 30-year fixed-rate mortgage alone has averaged below 4 percent, increasing affordability by cheapening the costs of borrowing. In its weekly mortgage market survey, Freddie Mac reports that average fixed-rate mortgages continue to reach all-time record lows from easing bond yields and a dismal June employment report. Here’s a closer look at rates for the week ending July … [Read more...]
