Market Snapshot
Increase seen in Phoenix-area home prices
Wednesday, June 2nd, 2010For the first time in three years, Phoenix-area housing prices are showing an overall year-over-year increase for the market. A new report from the W. P. Carey School of Business contains positive news for Valley homeowners, who have been waiting for relief from dropping home values. “This report reflects an important milestone in the recent [...]
Podcast: Median Price Not Full Story For Phoenix Market
Wednesday, June 2nd, 2010The median price for resale homes in the Phoenix area has been edging up for several months. Does this signal that the market is approaching normalcy? Jay Butler, associate professor of real estate and author of the Realty Studies report from the W. P. Carey School of Business, talks about the factors affecting median price, [...]
Phoenix housing prices up 5.5 percent this year
Monday, May 17th, 2010Phoenix-area housing prices have consistently gone up every month this year, despite tough economic times. The latest Realty Studies report from the W. P. Carey School of Business at Arizona State University confirms the median single-family home price in the Valley has steadily increased. However, it’s unclear whether the momentum will continue. The median price [...]
Report: Phoenix-area home prices should level off soon
Thursday, April 8th, 2010Phoenix-area home prices should level off soon, if the current trends continue. A new report from the W. P. Carey School of Business at Arizona State University shows price drops slowing and likely to come to an end after about three years of falling. “The rate of decline has been slowing for several months, and [...]
Phoenix Area Single-Family Market Improving — Not So in Townhouse/Condo Sector
Monday, November 2nd, 2009Single-family home prices in the Phoenix metro market have finally stopped diving, but the townhouse/condominium segment of the market continues to sink, according to the latest ASU Repeat Sales Index (ASU-RSI). The ASU-RSI is reporting that home prices declined 28 percent in July compared to July 2008, continuing a welcome moderating trend that started a [...]
Study: Phoenix-Area Home Prices Up for First Time Since 2007
Tuesday, September 29th, 2009For the first time since 2007, Phoenix-area home prices increased from one month to the next. A new report from the W. P. Carey School of Business at Arizona State University shows a slight 0.8 percent bump up in Valley home prices from May to June this year. The Arizona State University-Repeat Sales Index (ASU-RSI) [...]
Market Snapshot by NAR Chief Economist Lawrence Yun
Tuesday, June 2nd, 2009Lawrence Yun, NAR chief economist, said first-time buyers continue to influence the market but there also is a seasonal rise of repeat buyers. “Most of the sales are taking place in lower price ranges and activity is beginning to pick up in the midprice ranges, but high-end home sales remain sluggish,” he said. “The Federal [...]