Arizona State Overview
Submitted by Naomi M on Thu, 10/04/2007 - 17:32.
Capital: Phoenix
Estimated 2004 population: 5,743,834
Change from 2000: +613,202
2004 housing units: 2,458,231
Housing units change from 2000-2004: +253,928
Top Arizona Cities
Chandler | Gilbert | Glendale | Lake Havasu City | Mesa | Phoenix | Prescott | Scottsdale | Sedona | Surprise | Tempe | Tuscon
Arizona Economy
Phoenix-area home permits hit 15-year low
Submitted by Naomi M on Fri, 11/30/2007 - 04:59.Residential building permits are at their lowest point in 15 years, according to the Phoenix Housing Market Letter published Wednesday by RL Brown Housing Reports.
In October, just 1,325 permits were issued vs. 2,341 a year ago. Though the drop is significant, the report suggests that home builders are selling off excessive inventory "showing signs of a stabilizing of the new home market in the metro Phoenix region."
In October, just 1,325 permits were issued vs. 2,341 a year ago. Though the drop is significant, the report suggests that home builders are selling off excessive inventory "showing signs of a stabilizing of the new home market in the metro Phoenix region."
Phoenix housing trends: building permits down, new home sales stable
Submitted by Anonymous on Wed, 10/31/2007 - 17:50.Last month's dramatic drop in building permits for homes across metropolitan Phoenix is actually a good sign, as new home sales hold steady.
There were 1,391 single-family permits issued from Casa Grande to north Peoria in September, while new-home sales or closings were more than double permits for the month at 2,991.
There were 1,391 single-family permits issued from Casa Grande to north Peoria in September, while new-home sales or closings were more than double permits for the month at 2,991.
Housing market is a challenge in outlying Tucson subdivisions
Submitted by Anonymous on Sun, 10/21/2007 - 05:00.The slowing housing market in outlying subdivisions in the Tucson area has forced builders to slash prices and add incentives to move unsold spec homes and empty lots.
Homeowners trying to sell properties in newer developments are finding they can't compete with builders' rock-bottom prices. While the market overall has cooled considerably since the 2005 housing boom, the change has been even more drastic for some outlying areas.
Homeowners trying to sell properties in newer developments are finding they can't compete with builders' rock-bottom prices. While the market overall has cooled considerably since the 2005 housing boom, the change has been even more drastic for some outlying areas.
Tucson AZ housing market slowdown may last to 2010
Submitted by Naomi M on Thu, 10/18/2007 - 16:01.The Southern Arizona Housing Market letter released Tuesday indicates the slowdown in Tucson's residential real-estate market might be slower and deeper than previously expected reports The Arizona Daily Star article. If the glut of unsold homes remains high, and sales continue at their current pace, the slowdown will last until 2010.
New home closings dropped to 457 in September, down more than 20 percent from the same month last year, according to market letter. The number of resale home sales fell to 808 for the month, down nearly 18 percent from September 2006.
New home closings dropped to 457 in September, down more than 20 percent from the same month last year, according to market letter. The number of resale home sales fell to 808 for the month, down nearly 18 percent from September 2006.
Phoenix Arizona Home Prices Drop, But Freefall Not Likely
Submitted by Naomi M on Fri, 09/28/2007 - 20:46.Metropolitan Phoenix home prices have dipped in the past year, but economists say not to expect a freefall of Arizona's housing prices.
Home sales and building have cooled statewide since 2005, but so far, "worries about a bursting housing bubble have not become reality," according to the February issue of the Arizona Blue Chip Economic Forecast.
It cites information from the Office of Federal Housing Enterprise Oversight that show Arizona home prices were up 10 percent during the fourth quarter of 2006 compared with the fourth quarter of 2005.
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