National News

Tempe named second-best place to live in the U.S.

Communities on the list were ranked based on economic opportunities, quality of life, diversity and where the best futures lie.

Phoenix housing cooling faster than markets in most other major cities

The markets cooling fastest are many of the same places that saw the biggest spikes in home prices during the last three years. 

National home prices see first monthly drop since January 2019, S&P CoreLogic Case-Shiller Index shows

The price index dropped in Phoenix, too, declining 0.12% from June to July. Year over year, the Phoenix home price index is up 13.51%.

New-home sales post unexpected rebound in August 

Sales of new homes in the U.S. jumped 28.8% between July and August, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development.  

Phoenix stands out as one of best markets for real estate investment over the last 10 years

The median single-family home price in the Phoenix metro area in 2011 was $115,500. Ten years later, it was $415,400, nearly a 260% increase.

NAR: Existing-home sales fell in August while prices rose 

The median existing-home price for all housing types in August was $389,500, a 7.7% rise from the year before. 

Housing starts surprise to the upside in August 

New-home construction posted a 12.2% month-over-month increase in August, thanks in large part to a significant jump in multifamily building.  

Builder confidence falls for ninth consecutive month 

A continuing combination of increased interest rates, supply-chain disruptions and high home prices has sapped homebuilder sentiment every month this year. 

Phoenix named a top 21 city for real estate investment in 2022 and 2023

Norada cited the relatively lower cost of living and housing in the Phoenix area, attracting people from higher-cost cities such as Los Angeles and Seattle.

30-year fixed tops 6% for first time since 2008 in latest MBA survey 

Mortgage applications declined 1.2% during the week ended Sept. 9, according to the Mortgage Bankers Association’s Weekly Mortgage Applications Survey. 

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