New Home Prices Still Moving Up Rapidly

housing

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Metro Phoenix, AZ, September 10, 2013: Belfiore Real Estate Consulting released its September edition of KnowledgeBase Current & Future Market Insights today, highlighting housing market conditions within the Metro Phoenix Area, as well as submarket-level conditions in the North and Northeast region of Metro Phoenix. Metro Phoenix Area home prices have continued increasing in recent months. Same-store, net, new home prices were up 0.9% from June to July, and they’re up 6.4% year-over-year. North & Northeast Region hotspots include North Phoenix, where five of the eleven actively selling communities sold out from first to second quarter 2013, and Cave Creek / Carefree, where homebuilders within the Lone Mountain Community have more than ample inventory heading into fall.

President Jim Belfiore comments, “New home prices continue to expand. In the North & Northeast, this expansion is driving builders to innovate, particularly as it pertains to smaller lot detached product, and future attached- condominiums and townhomes- product.

For more information on Metro Phoenix housing market conditions, Submarket-level conditions, new home data, or KnowledgeBase publications, contact Kim Christofferson at kim@belfioreconsulting.com or (480) 706-1002.

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