Phoenix Existing Home Sales Continue Robust Pace

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Phoenix Existing Home Sales Continue Robust Pace

HOW LOANRATEUPDATE WORKS

READ OUR DISCLOSURE

FILL OUT THE FORM

It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.

WE VERIFY & TRANSMIT TO LENDERS

Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.

REVIEW YOUR OFFERS

With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.

CHOOSE YOUR LENDER

Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.

READY TO SPEAK TO A PROFESSIONAL?

LOANRATEUPDATE IS NOT A LENDER OR A BROKER BUT WE HAVE LOTS OF FRIENDS WHO ARE

Pick the service you desire below

Phoenix Existing Home Sales Continue Robust Pace

HOW LOANRATEUPDATE WORKS

READ OUR DISCLOSURE

FILL OUT THE FORM

It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.

WE VERIFY & TRANSMIT TO LENDERS

Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.

REVIEW YOUR OFFERS

With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.

CHOOSE YOUR LENDER

Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.

LOANRATEUPDATE IS NOT A LENDER OR A BROKER BUT WE HAVE LOTS OF FRIENDS WHO ARE

Pick the service you desire below

Phoenix Existing Home Sales Continue Robust Pace

July 29, 2011 (Shirley Allen)

Existing home sales in Phoenix continued at a robust pace in June, reaching six year highs for the second consecutive month, while home prices see their first monthly increase in a year according to real estate information provider DataQuick.

A total of 10,537 new and resale houses and condos closed escrow in the Maricopa-Pinal counties area in June. Sales were 8.3 percent higher than in May and 1.5 percent higher than June of 2010. Existing home sales were at their highest level since 2005.

New home sales continued to be the weak link, accounting for only 796 of the total sales, the lowest level of new home sales for a June in 14 years.

Existing single-family detached homes and condos made up 9,741 of the total sales last month, 7.1 percent more than last year and 16.7 percent higher than the average for June.

Cash buyers were responsible for 40.8 percent of the purchases in June, which was down from 42.0 percent in May, but up from 33.6 percent a year earlier. The record for cash purchases was in February 2011, when 48 percent of the sales were for cash.

The price that cash buyers are paying continues to decline as the median price paid by a cash buyer in June was $88,700, which is down from $90,000 in May and down from $110,000 in June 2010.

Absentee buyers, usually investors and vacation home buyers, accounted for 44.0 percent of all homes sold in June and they paid a median average price of $100,000 during the month.

The overall median price paid for new and resale homes and condos in June was $122,900, which was an increase from $120,000 in May, the first monthly price increase since June 2010. The median price was still 12.2 percent below June of last year.

The current median price is 53.5 percent below the peak median price of $264,100 in June 2006 and has fallen year-over-year for the last 13 consecutive months.

Distressed sales represented 63.7 percent of the resale market in June as foreclosures accounted for 49.6 percent of the distressed sales and short sales accounted for 14.1 percent of the distressed sales.

Foreclosures fell 1.5 percent from May to June with lenders foreclosing on 4,794 single-family homes and condos last month. Foreclosures are down 12.3 percent compared to June of 2010.

Tags: DataQuick, existing home sales, Phoenix, distressed properties, resale homes, condos, cash buyers, investors, median price

Source:
DataQuick

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If you are thinking of selling your home, chances are you’re caught up in a mass of emotions. Needs change and although you may be looking forward to this new adventure, you'll probably find yourself reluctant to leave your memories behind and face the overwhelming task of selling your home and moving.

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July 29, 2011 (Shirley Allen)

New home sales continued to be the weak link, accounting for only 796 of the total sales, the lowest level of new home sales for a June in 14 years.

Existing single-family detached homes and condos made up 9,741 of the total sales last month, 7.1 percent more than last year and 16.7 percent higher than the average for June.

The price that cash buyers are paying continues to decline as the median price paid by a cash buyer in June was $88,700, which is down from $90,000 in May and down from $110,000 in June 2010.

Absentee buyers, usually investors and vacation home buyers, accounted for 44.0 percent of all homes sold in June and they paid a median average price of $100,000 during the month.

The current median price is 53.5 percent below the peak median price of $264,100 in June 2006 and has fallen year-over-year for the last 13 consecutive months.

Foreclosures fell 1.5 percent from May to June with lenders foreclosing on 4,794 single-family homes and condos last month. Foreclosures are down 12.3 percent compared to June of 2010.

Tags: DataQuick, existing home sales, Phoenix, distressed properties, resale homes, condos, cash buyers, investors, median price

Source:
DataQuick

HOME LOANS CAN BE CONFUSING

YOU'VE GOT QUESTIONS

WHAT TYPE OF MORTGAGE LOANS ARE AVAILABLE?

DO I QUALIFY FOR A GOVERNMENT INSURED LOAN?

WHAT CAN I EXPECT FOR A MORTGAGE INTEREST RATE?

WE MAKE IT SIMPLE

WE'VE GOT ANSWERS

CALCULATE YOUR MORTGAGE PAYMENT

BENEFITS OF REFINANCING YOUR MORTGAGE

ADVANTAGES OF GETTING PRE-APPROVED FOR A LOAN

INSIDER CAR BUYING TIPS

What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.

BUYING VS LEASING

There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.

DEALER OR BANK FINANCING

Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.

BUYING ON THE INTERNET

Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.

THINKING OF BUYING
A NEW CAR?

WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.

AUTO LOAN CALCULATOR

Calculate how much you can afford

BUYING OR SELLING A HOME
IS A BIG DECISION

WE MAKE IT EASIER

HOME BUYING TIPS

HOME SELLING TIPS

SEARCH FOR A HOME

Home loans can be confusing. There's a lot of options and we provide the information that makles it simple. Don't sign on that dotted line until you know. It could cost you.

FIND THE CREDIT CARD THAT'S RIGHT FOR YOU

THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.

YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS

July 29, 2011 (Shirley Allen)

New home sales continued to be the weak link, accounting for only 796 of the total sales, the lowest level of new home sales for a June in 14 years.

Existing single-family detached homes and condos made up 9,741 of the total sales last month, 7.1 percent more than last year and 16.7 percent higher than the average for June.

The price that cash buyers are paying continues to decline as the median price paid by a cash buyer in June was $88,700, which is down from $90,000 in May and down from $110,000 in June 2010.

Absentee buyers, usually investors and vacation home buyers, accounted for 44.0 percent of all homes sold in June and they paid a median average price of $100,000 during the month.

The current median price is 53.5 percent below the peak median price of $264,100 in June 2006 and has fallen year-over-year for the last 13 consecutive months.

Foreclosures fell 1.5 percent from May to June with lenders foreclosing on 4,794 single-family homes and condos last month. Foreclosures are down 12.3 percent compared to June of 2010.

Tags: DataQuick, existing home sales, Phoenix, distressed properties, resale homes, condos, cash buyers, investors, median price

Source:
DataQuick

HOME LOANS CAN BE CONFUSING

YOU'VE GOT QUESTIONS

WHAT TYPE OF MORTGAGE LOANS ARE AVAILABLE?

DO I QUALIFY FOR A GOVERNMENT INSURED LOAN?

WHAT CAN I EXPECT FOR A MORTGAGE INTEREST RATE?

WE MAKE IT SIMPLE

WE'VE GOT ANSWERS

CALCULATE YOUR MORTGAGE PAYMENT

BENEFITS OF REFINANCING YOUR MORTGAGE

ADVANTAGES OF GETTING PRE-APPROVED FOR A LOAN

THINKING OF BUYING
A NEW CAR?

WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.

INSIDER CAR BUYING TIPS

What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.

BUYING VS LEASING

There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.

DEALER OR BANK FINANCING

Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.

BUYING ON THE INTERNET

Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.

AUTO LOAN CALCULATOR

Calculate how much you can afford

BUYING OR SELLING A HOME IS A BIG DECISION

WE MAKE IT EASIER

HOME BUYING TIPS

HOME SELLING TIPS

SEARCH FOR A HOME

Home loans can be confusing. There's a lot of options and we provide the information that makes it simple. Don't sign on that dotted line until you know. It could cost you.

FIND THE CREDIT CARD THAT'S RIGHT FOR YOU

THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.

YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS