News Article From: 06-12-2013
Metro Phoenix home-sale prices up 60% from market low
Metro Phoenix's median home-sales price climbed to $181,399, an almost 60% increase from the real estate crash's low price in August 2011. The main reason for higher home sales prices is the chronic shortage of available houses for sale in the Phoenix area, said analyst Mike Orr. His forecast is for metro Phoenix home sales prices to continue to climb in coming months, but at a slower pace.
Read article - azcentral.com
Why Some Buyers Are Feeling Like They Missed Out
With mortgage rates and home prices are on the rise, some home buyers who were waiting around for the housing market to reach bottom are realizing now they may have missed the boat. Mortgage rates are inching up, with the 30-year fixed-rate mortgage averaging 3.91% last week - up from 3.3% in early May. "It's unlikely that rates will ever be that low again," says Doug Duncan, Fannie Mae's chief economist.
Read article - Realtor Magazine
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