2015-06-19
News to You By Doug Brown

Friday, June 19, 2015

 

Demand spike, strained supply push prices higher in Phoenix housing market
Phoenix home prices have increased this year as supply decreases coinciding with a spike in demand, according to new data released from ASU. Median home prices rose 5.1% from last year as home buyers who have repaired their credit from foreclosure and short sale re-enter the market. Supply for entry to mid level homes in the $200,000 range has decreased with "boomerang" buyers beginning to re-enter the market, Orr said. The second quarter of this year has seen more demand than the same period last year.
Read article - Phoenix Business Journal
 

FHA's Lower Premiums Boost Loan Demand
Recent actions by the FHA to reduce its mortgage insurance premiums is giving its loan volume a major boost, particularly with a "significant uptick in refinancings," Julian Castro, Department of Housing and Urban Development Secretary, said before the House Financial Services Committee. The FHA was on track to also reach its 2% statutory capital minimum within two years. FHA is required by law to have at least 2% in capital reserves, but was at 0.41% as of November last year.
Read article - Realtor Magazine

      

Additional articles that you

might find of interest:

  

Chilean developer building condo lofts, live-work units in downtown Phoenix
Read article - Phoenix Business Journal

Avondale creates $2M fund to help builders, developers pay impact fees
Read article - Phoenix Business Journal

Phoenix city councilman pushing for dual Suns-Coyotes arena, downtown mall and grocery store
Read article - Phoenix Business Journal

New restaurant, retail spaces being built next to planned OdySea Aquarium near Scottsdale
Read article - Phoenix Business Journal

New $32M medical office complex planned for Banner Estrella Phoenix campus
Read article - Phoenix Business Journal

New $5M restaurant development coming to Scottsdale
Read article - Phoenix Business Journal

Cash is king with Phoenix-area luxury home sales
Read article - Phoenix Business Journal

Phoenix approves plans for new homes near Tatum Ranch
Read article - Phoenix Business Journal

  
A Big Pick Up in Homebuilding Is Coming
Read article - Realtor Magazine

Buyers Overestimate Mortgage Requirements
Read article - Realtor Magazine

For Sellers, Emotions Trump More Money
Read article - Realtor Magazine


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