News items about home prices, mostly in Arizona
Pgiam / Getty Images/iStockphotoThe housing market has been grueling for many would-be buyers, making the dream of homeownership very difficult to attain. Inflation, soaring mortgage rates, and low inventory — which is further putting pressure on prices — are all contributing to the issue.Also: Don’t Buy a House in These 5 US Cities That Have…
Housing is a basic need. No matter how expensive it gets, people still need somewhere to live.Given this truism, it’s no wonder that the populations of America’s so-called superstar cities have stagnated while the Sun Belt’s metropolitan areas have boomed. When a city — or, as in the case of California, an entire state —…
Two Arizona cities outside of metro Phoenix crossed key population milestones as the state remains one of fastest growing in the nation.After the U.S. Census Bureau reported last year that Phoenix had the second largest population growth from July 2021 to July 2022, this year’s report on May 16 showed strong growth outside of metro…
Arizona legislation to speed up the zoning process and require cities to track how much housing they need was signed by the governor earlier this week. Both are moves to address the state’s housing shortage.Republican-backed SB 1162 sets a deadline of 180 days for municipalities to decide on zoning requests that are complete when filed….
Metro Phoenix home prices and sales ticked up in March, but higher interest rates are affecting the market in April.The Valley’s median home price rose $5,000 to $445,000 last month, according to the Arizona Regional Multiple Listing Service. Sales increased by about 1,000 from February to 6,541 in March.The median home price is projected to…
Arizona Gov. Katie Hobbs just proved yet again how scrambled the politics of housing are.On Monday, the Democratic leader vetoed a bipartisan bill designed to cut red tape and lower the cost of housing.The Arizona Starter Homes Act, or HB 2570, would have prohibited cities with more than 70,000 residents from requiring minimum lot and…
Updated at 1:25 p.m. ET on March 11, 2024.For days before his State of the Union address last week, there were whispers that Joe Biden would make a major push to expand the nation’s housing supply—a possibility that worried the yes-in-my-backyard activists who push for more construction in communities across the country. Political polarization in…
The dream of homeownership is becoming increasingly elusive for many Americans as both home prices and insurance premiums are on the rise. Over the past decade, home prices have nearly doubled, according to the S&P CoreLogic Case-Shiller national index. Homeowners insurance premiums are climbing too. The average cost of insuring a $300,000 property surged by…
DenisTangneyJr / iStock.comIt isn’t just retirees who are moving to Arizona these days.The state now draws people of all ages, seeking to escape to a place known for mostly mild winters and abundant sunshine. In its 2023 migration report, Allied Van Lines found that Arizona was No. 2 in popularity for people relocating to a…
Joan Levinson of Realty One Group has a hard deadline to sell a $29 million mansion that just completed construction.She had listed the 15,378-square-foot estate in September for $27.5 million on behalf of her client, a limited partnership led by Andrew Barroway, while the residence has been under construction.Barroway — managing partner of hedge fund…