New-home Sales Steady, But Prices Jump:
NEW YORK (CNNMoney) - Sales of new homes were little changed in August, but prices rose sharply in a signal of continued improvement in the housing market, according to a government report issued Wednesday.
New homes sold at an annual rate of 373,000, down 1,000 from the July reading from the Census Bureau, which tracks the sales. The number is 28% above year-earlier levels.
But the median price of a new home jumped 11% from the July reading to $256,900. While month-to-month readings can be volatile, the latest reading lifted the year-over-year improvement in sales price to 17%.
The prices are helped by a number of factors, including a tight supply in new homes available on the market. Census estimates there is now only a 4.5 month supply of new homes on the market, unchanged from July but down from 6.6 months at the same time last year. The tight supply is partially attributed to 2009 through 2011 being the three slowest years of housing construction on record.
"Even though this report did not show a significant headline increase, the persistent low levels of inventories and increasing prices are encouraging signs and in line with our view of a broader housing recovery," said Cooper Howes, an economist with Barclays Research.
There have been numerous signs of a turnaround in the housing market in recent months, including broad improvement in home prices, new housing constructionand the sale of pre-owned homes. The pace of home foreclosures, which had been hanging over the market driving down prices, is also down from year-earlier levels. And record low mortgage ratesare helping to lower the cost of home ownership.
Part of the reason for the jump in median price could be because of a geographic mix. Sales in the Northeast, typically a more expensive market, rose by 20%, while sales in the more affordable South slipped by 5%.
For more information, please visit our website.
Scottsdale Real Estate | Luxury Valley Homes:
Real Estate In Scottsdale AZ:
Scottsdale, AZ is not a huge city but enjoys the sophistication and amenities of a large city. New homes are being built but it is fast being built-out because land for building sites is increasingly hard to find. It's one of the reasons Scottsdale real estate in Arizona is enjoying higher appreciation than most communities.
If you're looking to buy Scottsdale real estate, for your next home, you can treat it as a new adventure, even a new way of expressing yourself. It's about experiencing those exquisite moments that leave you feeling energized, enriched and renewed. And it's about creating memories that will inspire and delight you for a lifetime.
Scottsdale Real Estate in Arizona is our specialty. Our team is committed to making the buying and selling of Arizona real estate a pleasurable and rewarding experience. Our website allows you to search all active real estate listings in every city in Maricopa County island including Scottsdale real estate, Carefree, Cave Creek, Chandler, Glendale, Mesa, Paradise Valley, and Phoenix. The site is easy to use and navigate through the property searches.
Featured is the finest Arizona Valley homes for sale, condos and townhomes, that Scottsdale and the surrounding cities have to offer. Contact us today! To find out how we can be of assistance to you.
- Luxury Valley Homes Property Search:
LuxuryValleyHomes.com has become Arizona's Valley of the Sun real estate resource on the internet. Our easy to use search engine combines all of Scottsdale and Valley city MLS databases and allows you to search all Arizona properties for sale in every Valley city.
It allows you to receive Daily Email Alerts of new Arizona valley real estate listings; price changes of properties that meet your search criteria plus you can also save multiple searches with unique names and save favorite properties for tracking purposes. You can also access your account anytime and change the frequency of the email alerts, share them with friends, know your information is secure and research market trends with ease!
- Selling Your Arizona Property in Scottsdale, Paradise Valley, Carefree or Phoenix?
The Luxury Valley Homes (LVH) team are a highly qualified team of professionals that are committed to providing the highest quality of service in the industry in Scottsdale and all the Valley cities. If you are looking for a real estate team that is highly motivated, friendly, professional, honest, highly skilled and hard working, contact us today!
Our market knowledge of real estate in Scottsdale and the other valley cities will net you $1000's more in your pocket. Selling Scottsdale real estate in Maricopa County is our specialty.
- Discover Scottsdale:
Arizona has a population of 5,939,292 and a large part of that is in Maricopa County that makes up the Valley of the Sun with nearly 3,635,528 residents. Scottsdale Arizona stretches 31 miles in length and has a diverse topography and elevation changes. In the high Sonoran Desert it can be as much as 10 degrees cooler than downtown Scottsdale. Scottsdale's widest point is 10 miles while the narrowest point is less that 2 miles. There is a location in Scottsdale where you can stand on the borders of Scottsdale, Phoenix, and Paradise Valley, all at the same time.
When you think about Scottsdale real estate it's hard not to see how beautiful and captivating Scottsdale really is. The high sonoran desert has a beauty all of its own, the mountains create a vibrant array of colors from the sun and clouds that meander across the skies. From the setting sun to the bright tropical flowers, to the deep blues of our skies gives you a feeling of paradise. Luxury valley homes in Scottsdale offers family homes, vacation homes. town homes and condos that are available with easy access to all of our cultural centers and outdoor activities.
- Scottsdale Real Estate | Luxury Valley Homes Arizona:
About Scottsdale Real Estate: The Luxury Valley Homes Scottsdale Arizona real estate website is owned by RJ Daley & Daley, PLLC, and doing business as Luxury Valley Homes. This is a team of agents specializing in Scottsdale real estate, helping both buyers and sellers with their real estate requirements. Our REALTORS provide professionalism, integrity, relocation counseling, personal attention, and market expertise.
NEW YORK (CNNMoney) - Sales of new homes were little changed in August, but prices rose sharply in a signal of continued improvement in the housing market, according to a government report issued Wednesday.
New homes sold at an annual rate of 373,000, down 1,000 from the July reading from the Census Bureau, which tracks the sales. The number is 28% above year-earlier levels.
But the median price of a new home jumped 11% from the July reading to $256,900. While month-to-month readings can be volatile, the latest reading lifted the year-over-year improvement in sales price to 17%.
The prices are helped by a number of factors, including a tight supply in new homes available on the market. Census estimates there is now only a 4.5 month supply of new homes on the market, unchanged from July but down from 6.6 months at the same time last year. The tight supply is partially attributed to 2009 through 2011 being the three slowest years of housing construction on record.
"Even though this report did not show a significant headline increase, the persistent low levels of inventories and increasing prices are encouraging signs and in line with our view of a broader housing recovery," said Cooper Howes, an economist with Barclays Research.
There have been numerous signs of a turnaround in the housing market in recent months, including broad improvement in home prices, new housing constructionand the sale of pre-owned homes. The pace of home foreclosures, which had been hanging over the market driving down prices, is also down from year-earlier levels. And record low mortgage ratesare helping to lower the cost of home ownership.
Part of the reason for the jump in median price could be because of a geographic mix. Sales in the Northeast, typically a more expensive market, rose by 20%, while sales in the more affordable South slipped by 5%.
For more information, please visit our website.
Scottsdale Real Estate | Luxury Valley Homes:
Real Estate In Scottsdale AZ:
Scottsdale, AZ is not a huge city but enjoys the sophistication and amenities of a large city. New homes are being built but it is fast being built-out because land for building sites is increasingly hard to find. It's one of the reasons Scottsdale real estate in Arizona is enjoying higher appreciation than most communities.
If you're looking to buy Scottsdale real estate, for your next home, you can treat it as a new adventure, even a new way of expressing yourself. It's about experiencing those exquisite moments that leave you feeling energized, enriched and renewed. And it's about creating memories that will inspire and delight you for a lifetime.
Scottsdale Real Estate in Arizona is our specialty. Our team is committed to making the buying and selling of Arizona real estate a pleasurable and rewarding experience. Our website allows you to search all active real estate listings in every city in Maricopa County island including Scottsdale real estate, Carefree, Cave Creek, Chandler, Glendale, Mesa, Paradise Valley, and Phoenix. The site is easy to use and navigate through the property searches.
Featured is the finest Arizona Valley homes for sale, condos and townhomes, that Scottsdale and the surrounding cities have to offer. Contact us today! To find out how we can be of assistance to you.
- Luxury Valley Homes Property Search:
LuxuryValleyHomes.com has become Arizona's Valley of the Sun real estate resource on the internet. Our easy to use search engine combines all of Scottsdale and Valley city MLS databases and allows you to search all Arizona properties for sale in every Valley city.
It allows you to receive Daily Email Alerts of new Arizona valley real estate listings; price changes of properties that meet your search criteria plus you can also save multiple searches with unique names and save favorite properties for tracking purposes. You can also access your account anytime and change the frequency of the email alerts, share them with friends, know your information is secure and research market trends with ease!
- Selling Your Arizona Property in Scottsdale, Paradise Valley, Carefree or Phoenix?
The Luxury Valley Homes (LVH) team are a highly qualified team of professionals that are committed to providing the highest quality of service in the industry in Scottsdale and all the Valley cities. If you are looking for a real estate team that is highly motivated, friendly, professional, honest, highly skilled and hard working, contact us today!
Our market knowledge of real estate in Scottsdale and the other valley cities will net you $1000's more in your pocket. Selling Scottsdale real estate in Maricopa County is our specialty.
- Discover Scottsdale:
Arizona has a population of 5,939,292 and a large part of that is in Maricopa County that makes up the Valley of the Sun with nearly 3,635,528 residents. Scottsdale Arizona stretches 31 miles in length and has a diverse topography and elevation changes. In the high Sonoran Desert it can be as much as 10 degrees cooler than downtown Scottsdale. Scottsdale's widest point is 10 miles while the narrowest point is less that 2 miles. There is a location in Scottsdale where you can stand on the borders of Scottsdale, Phoenix, and Paradise Valley, all at the same time.
When you think about Scottsdale real estate it's hard not to see how beautiful and captivating Scottsdale really is. The high sonoran desert has a beauty all of its own, the mountains create a vibrant array of colors from the sun and clouds that meander across the skies. From the setting sun to the bright tropical flowers, to the deep blues of our skies gives you a feeling of paradise. Luxury valley homes in Scottsdale offers family homes, vacation homes. town homes and condos that are available with easy access to all of our cultural centers and outdoor activities.
- Scottsdale Real Estate | Luxury Valley Homes Arizona:
About Scottsdale Real Estate: The Luxury Valley Homes Scottsdale Arizona real estate website is owned by RJ Daley & Daley, PLLC, and doing business as Luxury Valley Homes. This is a team of agents specializing in Scottsdale real estate, helping both buyers and sellers with their real estate requirements. Our REALTORS provide professionalism, integrity, relocation counseling, personal attention, and market expertise.
SHARE
