News Article From: 12-14-2012
Report: Surge in new-home sales signals rebound under way According to a report by Arizona State University's W.P. Carey School of Business, 1,021 new single-family homes were sold in the Phoenix area during October, an 85 percent increase from the same month last year. For the year, 7,399 new single-family homes have been sold, up 37 percent from the same period in 2011. New home sales held 12% of residential property market share this October, up from 7% in 2011, the report said. The rebound is also spurring residential property investors to buy land in the Valley. Read article - East Valley Tribune
Mortgage Rates Continue to Fall Fixed-rate mortgages sank down near their record lows last week , according to Freddie Mac's weekly mortgage market survey. 30-year fixed-rate mortgages: averaged 3.32%, with an average 0.7 point, dropping from last week's 3.34% average. 15-year fixed-rate mortgages: averaged 2.66%, with an average 0.6 point, dropping from last week's 2.67% average. Read article - Realtor Magazine
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