Phoenix, AZ - Local Housing Data - Summary

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Phoenix, Mesa, Scottsdale, AZ

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Phoenix, AZ Local News

  • Are Your Workers Safe Enough?

    Phoenix Business Journal staffer Kristena Hansen reports that Arizona's guidelines for protecting residential construction workers from dangerous falls on the job site are under intense scrutiny by the federal government.

  • The Incredible Expanding Square Foot

    Phoenix Business Journal staffer Kristena Hansen reports that Fulton Homes is cranking up the heat on the McMansion trend. The Tempe-based home builder is launching a new community in Gilbert where homes will be as big as 6,683 square feet and offer up to 11 bedrooms, the company said in a statement...

  • Meritage, Porchlight Opt for Infill In Phoenix Submarkets

    The Arizona Republic's Catherine Reagor reports that Meritage Homes recently paid $9 million for the old Paddock Pools corporate headquarters in south Scottsdale on Thomas Road near 64th Street. Infill is in.

Freshest Numbers Show Prices of New Homes Gain in Phoenix, Sales Fall

Posted on: Apr 06, 2014 07:32:47 AM

In January, there was a decline year-over-year in new home closings in the Phoenix, AZ market, and there were hints of weakening market conditions with a percentage decline steeper than that of December 2013. There was a 25.1% drop in new home closings from a year earlier. This followed a 8.7% decline year-over-year in December.

A total of 10,634 new homes were sold during the 12 months that ended in January, down from 10,842 for the year that ended in December.

As a percentage of overall housing closings, new home closings accounted for 8.9% of overall housing closings. As a part of the whole, new home closings were 8.3% a year earlier. Following a year-over-year decline in December, closings of new and existing homes also slid year-over-year in January.

Pricing and Mortgage Trends

In January, the average price of newly sold homes increased year-over-year to $331,766 per unit, a 19.6% gain. This rise is smaller than the 24.5% hike in December year-over-year.

Along with new home prices, there was an increase year-over-year in the average mortgage size on newly sold homes. The average mortgage size rose to $270,351 in January, marking a 12.7% gain compared with a year earlier. In December 2013, average mortgage size jumped 18.3% from a year earlier.

 
 
 

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