News items about home prices, mostly in Arizona
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…
(NEXSTAR) – Shopping for a home has been an American nightmare for Generation Z in recent years, as mortgage rates and home prices skyrocketed – but in 2024 there are some cities where hope springs anew. A recent analysis by Point2Homes found that Gen Z buyers, who are more likely to have entry-level incomes and…
A custom home surrounded by a lake on three sides within the Ocotillo Golf Course Community in Chandler has sold for $2.755 million, breaking a 17-year record within the upscale community.The 6,4860-square-foot home at 3800 S. Clubhouse Drive is within the exclusive private community of Crown Point with 11 custom built homes on its own…
Arizona House Speaker Ben Toma hopes that HB 2435 will crack down on the increase in organized retail crime in Arizona.At a news conference Tuesday at the Capitol, Toma, a Republican who is sponsoring the bill, emphasized “getting tough” and holding criminals accountable.The legislation, which is headed to the House Judiciary Committee Wednesday, sets up…
[embedded content] Based on the trends we can see after the start of the year, I’ll project 2024 will see about 15% home sales growth over 2023. Home prices will be up this year by a few percentage points, also. These are very clear trends as we start the new year. 2022 started insanely strong…