Welcome!




Expand Your Education with These Courses from
A Consumer Advocate Approach to Real Estate: Course 1.
Becoming a Successful Sales Professional: Skills for Sales Success: Part One.
Negotiating Skills: Skills for Sales Success: Part Six.
ACE: Purchase Reverse Mortgage Course.
Bundle 1: CIPS Core Courses (Non-US Version).

Obama: ‘Housing Market Is Beginning to Heal…Home Prices Rising at Fastest Pace in 7 Years’

Have a comment on this article? Share on Facebook!

By Zoe Eisenberg

According to an analysis by Mike Orr, a researcher at Arizona State University’s W.P. Carey School of Business, the median single-family-home price in Arizona is up an incredible 25.9 percent from last year.

Following the president’s remarks, Heather MacLean, a real estate agent with Arizona-based Realty Executives, said the Phoenix market has never been better. “We are seeing numbers in some areas that actually rival numbers that were seen in the mid 2000′s,” MacLean said. “Our inventory remains low and the buyers often times are competing with numerous offers on good properties. Buyers remain optimistic, sellers continue to be pleasantly surprised by the change of market and banks are back in the business of lending. All of that together makes an extremely healthy market place.”

Tim Irvine, another real estate agent with Realty Executives in Ahwatukee, agreed commenting, “We continue to have a strong seller’s market with 16,800 active listings, but this number has increased 5.7% in the last month, primarily due to higher interest rates and our typical late summer slowdown for July & August.

“The median sales price for all resale properties in July is projected to be $182,500 which would be a 1.4% increase over June ($180k). More specifically for Ahwatukee, the affluent Phoenix suburb where The president directed his message to the middle class today, the three month, rolling average sales price is up 2.0% to $312,845 for July.”

To hear the president’s full speech on the housing market made in Phoenix Tuesday, click here.

Stay tuned to RISMedia for continuing coverage of the housing market recovery.

RISMedia Online Managing Editor Beth McGuire contributed to this report.

Continue Reading 1 2 3

Want instant access to great articles like this for your blog or newsletter? Check out our 30-day FREE trial of REsource Licensed Real Estate Content Solutions. Need easy stay-in-touch e-Marketing solutions too? Try Pop-a-Note for 99 cents!
Join RISMedia on Twitter and Facebook to connect with us and share your thoughts on this and other topics.




Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

Copyright© 2014 RISMedia, The Leader in Real Estate Information Systems and Real Estate News. All Rights Reserved. This material may not be republished without permission from RISMedia.

Content on this website is copyrighted and may not be redistributed without express written permission from RISMedia. Access to RISMedia archives and thousands of articles like this, as well as consumer real estate videos, are available through RISMedia's REsource Licensed Content Solutions. Offering the industry’s most comprehensive and affordable content packages. Click here to learn more! http://resource.rismedia.com

Our Latest News >>