Healthy Demand For Phoenix Housing - Are Home Prices Following?

Posted by The Cascade Team Real Estate on August 24th, 2015

Phoenix regional real estate indicators show healthy need for houses.

The question is whether prices are following the housing market's return to pre-recession conditions.  New July numbers from RL Brown Housing Reports show existing home sales up 22 percent in July from last year. New home sales were up 10 percent in July vs. July 2014, and allows for brand-new house construction were up 55.5 percent.  Year-to-date, new home building permits are up 39 percent versus 2014 and existing house sales are up 13 percent.

Costs, nevertheless, are not revealing the very same toughness.  The typical list price for an existing house in July came in at $200,000, according to Scottsdale-based RL Brown.  The median cost of a brand-new home chose $299,990 in July…

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Phoenix Housing Market Still Fairly Hot, But Moving Towards A Real Estate Balance

Posted by The Cascade Team Real Estate on August 14th, 2015

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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