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Millionaire Now! by Larry NusbaumThis blog is based on the organizational principles found in my new book, "Millionaire Now! - A Financial Toolbox with Seven Steps to Wealth". |
It's Deal Time With 55,000 Homes Listed In County MLS
Posted on 08/21/2007 09:27:25 | Link | Post Comment
It's deal time with 55,000 homes listed
from the East Valley Tribune, reports on housing market indicators and reports that home listings in the Valley rose to almost 55,000 in the past few weeks, a new high. About 85 percent of the Valley homes foreclosed on in July went back to the lender, according to Information Market. Housing analyst RL Brown has revised his 2007 new home building forecast downward to 34,000, with another 34,000 in 2008, with the market rebounding in 2009. The median price of an existing home was $265,000 in July, according to Realty Studies at ASU. That figure has been hovering between $263,000 and $265,500 for the past two years. Metro Phoenix drew 61,600 new jobs from July 2006 to June 2007, for a 3.3 percent growth rate, down from the 100,000 new jobs created in both 2005 and 2006. New home prices in Metro Phoenix have fallen an average of six percent this year, according to Phoenix-based Biltmore Real Estate Consulting. The firm said new home prices have dropped 21 percent in the last 18 months. The housing market is slowing nationally. In some cases, metro Phoenix is faring better. Many real estate analysts were calling for the market to start to rebound or at least bottom out this year, but now many are looking to mid 2008.
Home prices in Valley off 2.7% from year ago
from the Arizona Republic, reports that home prices in metropolitan Phoenix slipped 2.7 percent in the past year, but the Valley has lost less ground in appreciation than other hot housing markets that led the nation in run-ups two years ago. In 2005, metro Phoenix home prices jumped 55 percent, according to the National Association of Realtors. That was the biggest increase in the country. Other price leaders were Las Vegas and several Florida cities. In the second quarter, prices in Las Vegas dipped 3.6 percent vs. a year earlier. In Florida, Daytona home prices slid 8.3 percent. In Palm Bay, the drop was 15 percent. Orlando fared better with a 2.4 percent drop. The dip in local home prices is Valley-wide, with some parts of the area faring better than others.
Latest home prices from CNNMoney.com reports the second quarter numbers are in from the National Association of Realtors - 149 markets tracked. Some of the results of the survey, from the National Association of Realtors were more positive. More metro area markets - 97 of 149 - gained ground than lost. See entire list HERE
Housing Bubble and Real Estate Market Tracker from SA for 8/20
from the East Valley Tribune, reports on housing market indicators and reports that home listings in the Valley rose to almost 55,000 in the past few weeks, a new high. About 85 percent of the Valley homes foreclosed on in July went back to the lender, according to Information Market. Housing analyst RL Brown has revised his 2007 new home building forecast downward to 34,000, with another 34,000 in 2008, with the market rebounding in 2009. The median price of an existing home was $265,000 in July, according to Realty Studies at ASU. That figure has been hovering between $263,000 and $265,500 for the past two years. Metro Phoenix drew 61,600 new jobs from July 2006 to June 2007, for a 3.3 percent growth rate, down from the 100,000 new jobs created in both 2005 and 2006. New home prices in Metro Phoenix have fallen an average of six percent this year, according to Phoenix-based Biltmore Real Estate Consulting. The firm said new home prices have dropped 21 percent in the last 18 months. The housing market is slowing nationally. In some cases, metro Phoenix is faring better. Many real estate analysts were calling for the market to start to rebound or at least bottom out this year, but now many are looking to mid 2008.
Home prices in Valley off 2.7% from year ago
from the Arizona Republic, reports that home prices in metropolitan Phoenix slipped 2.7 percent in the past year, but the Valley has lost less ground in appreciation than other hot housing markets that led the nation in run-ups two years ago. In 2005, metro Phoenix home prices jumped 55 percent, according to the National Association of Realtors. That was the biggest increase in the country. Other price leaders were Las Vegas and several Florida cities. In the second quarter, prices in Las Vegas dipped 3.6 percent vs. a year earlier. In Florida, Daytona home prices slid 8.3 percent. In Palm Bay, the drop was 15 percent. Orlando fared better with a 2.4 percent drop. The dip in local home prices is Valley-wide, with some parts of the area faring better than others.
Latest home prices from CNNMoney.com reports the second quarter numbers are in from the National Association of Realtors - 149 markets tracked. Some of the results of the survey, from the National Association of Realtors were more positive. More metro area markets - 97 of 149 - gained ground than lost. See entire list HERE
Housing Bubble and Real Estate Market Tracker from SA for 8/20
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