Metro Phoenix Housing recovery better for resale than new construction homes.

RL Brown reported last week the local housing market has recovered with resale home sales improving more than new construction.  The combined number is closer to historical trends.

Nationwide home prices went down from Nov 2013 to Dec 2013.

CHRISTOPHER S. RUGABER
AP Economics Writer

U.S. home prices slipped from November to December, and the year-over-year increase slowed, likely a result of weaker sales at the end of last year.

Real estate data provider CoreLogic says prices dipped 0.1 percent in December. It was the third straight month-to-month drop. Home prices had risen for eight straight months through September.
For all of 2013, prices rose a healthy 11 percent. That was roughly equal to the 11.4 percent price increase for the 12 months that ended in November.

More Homes for sale in the Phoenix market

There are 40% more homes for sale in the Metro Phoenix market making it a better market for Buyer's than last year.  With interest rates still very low, Buyer's are coming back and still getting good deals.  Home values have increased in the last 18 months but prices have leveled out and don't appear to be going up very fast.

Homes near Phoenix Light Rail are selling fast. Click on the date below for more information.

Locally, in the Metro Phoenix market, residents are wanting to live in the Urban areas more and more.  Catherine Reagor, of AZCentral.com, reports "By percentage, growth of infill home building is outpacing the rest of metro Phoenix's new-home market."  She also reported "New houses going up near the Metro light rail are selling within days and sparking bidding wars. For-sale signs posted on lots vacant for decades are being replaced by dirt movers and contractors' pickups."

2014 expected to be a better year for real estate.

Nationwide the housing market continues to improve with more inventory expected on the market in 2014 vs 2013 however it should still be considered a sellers' market because the supply of homes will still remain about 15% below historical norms.

Housing market continues to improve.

Nationwide the housing market continues to improve with more inventory expected on the market in 2014 vs 2013 however it should still be considered a sellers' market because the supply of homes will still remain about 15% below historical norms.

Real Estate values are leveling out.

The real estate market is leveling out as predicted.  CoreLogic says prices increased 0.2% in October from September and 12.5% from a year ago nationwide.