May 2014

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What’s the Buzz?

Some market analysts are beginning to dial back on their expectations for the housing sector this year, following reports of continued sluggishness in what should have been the start of a busier season.

So just how healthy is the housing market? Data on prices and sales show a pretty nice recovery, but the standout stat is foreclosures: Foreclosure inventory dropped by 35% in the 12 months ended in February.

The National Housing Trend Report for March was just released by Realtor.com, and it offers some great news for spring home buyers. The market is much healthier this year, with growth in inventory and days on the market. With modest price increases present, the overall outlook is good.

Despite major gains in home values, market strategists from Pro Teck Valuation Services say there is no housing bubble on the horizon.

According to most market analysts, housing is stronger today than at any point since the “Great Recession” began and hit bottom in 2009.

More good news: Arizona is looking down the road to more than $11.5B in taxable construction sales for the current fiscal year—the best number since 2008.

Buying a home in Phoenix is still a better bargain than renting.

Thinking about selling your home in 2014? Find out how much it is worth by contacting The Kennedy Group for a free market analysis!

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In this edition:

  • How Healthy Is the Housing Market?
  • Healthier Market Welcome Sight for Spring Home Buyers
  • FreddieMac: Housing is Stronger Today
  • Spring Recovery: Dead on Arrival?
  • Arizona Construction Activity Might Hit $11.5B This Year
  • Buying is still cheaper than renting in Phoenix
  • Mortgage Rates

How Healthy Is the Housing Market?

Data on prices and sales show a pretty nice recovery, but the standout stat is foreclosures: The “foreclosure inventory” dropped by 35% in the 12 months ended in February. Click here for complete article.


Healthier Market Welcome Sight for Spring Home Buyers

The market is much healthier this year, with growth in inventory and days on the market. With modest price increases present, the overall outlook is good. Click here for complete article.


FreddieMac: Housing is Stronger Today

FreddieMacexplained that “housing is stronger today than at any point since the Great Recession began and hit bottom in 2009”. They then gave three reasons which support their position… Click here for complete article.


Spring Recovery: Dead on Arrival?

Some market analysts are dialing back on their expectations for the housing sector this year following reports of continued sluggishness in what should have been the start of a busier season. Click here for complete article.


Arizona Construction Activity Might Hit $11.5B This Year

Arizona is looking down the road to more than $11.5B in taxable construction sales for the current fiscal year—the best number since 2008. Click here for complete article.


Buying is still cheaper than renting in Phoenix

To own or rent, that is the question that continues to weigh on the minds of potential homebuyers everywhere. While the gap may have narrowed over the past year due to rising mortgage rates and home values, buying is still a better bargain than renting. Click here for complete article.


Mortgage Rates

U.S. averages as of May 1, 2014:

30 yr. fixed: 4.26%

15 yr. fixed: 3.35%

5/1 ARM: 4.64%

30 yr. jumbo: 3.28%

View current rates