A small breath of fresh air for many of you affected by the real estate market in Arizona. New home sales figures in the metro area have remained steady, and at a slightly better price than some respected analysts would have thought. In an article in the Arizona Republic, RL Brown analyzes the latest data. It appears there are just about as many new homes selling as resales-or at least a lot a closer comparison than would be normal. There are definitely some bargains out there in the new home market, and I have no doubt that is why so many homeowners are feeling the pinch of slow resales. Builders have always had better pricing power than consumer resellers, and certainly more so than usual given the low equity loans many people used to get into a home. This is at least a positive trend, and I am optimistic even more given the pricing levels mentioned in the article.
Remember, on Tuesdays I will post the weekly MLS data. There were some interesting numbers worth parsing this past week as well.
chris
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