Mortgage And Real Estate News

Sunday, March 9, 2014

Phoenix-area housing market tilts in favor of buyers



The number of houses for sale in metro Phoenix has climbed almost 40 percent in the past year. With many more properties from which to choose, the market is tilting away from sellers toward people looking to buy.

The entire region can’t yet be called a buyer’s market, but certain areas, including the northwest Valley and Pinal County, have enough houses listed for sale to exceed demand.

The nearly 72 percent increase in home prices since August 2011, to $199,000 from $116,000, is one key reason more homeowners are looking to sell. And the sprouting of for-sale signs can be just the motivation some potential buyers need.

Read more...Phoenix-area housing market tilts in favor of buyers

Reuters: Business News

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