AZ Valley Homes Surge Projected In 2015

Dated: 05/20/2015

Views: 688

The article, Steady year for Valley homes; surge projected in '15, from www.azcentral.com, reports that despite a 14 percent drop in sales, the Valley's overall median sales price still climbed more than 5 percent to reach $207,000 for the year. Some neighborhoods in the Phoenix area saw double-digit price increases, and no areas saw dramatic drops in values. Mike Orr, director of the Center for Real Estate Theory and Practice at Arizona State University's W. P. Carey School of Business, said that after a few years of rapid price increases and rising sales, it was a good thing for the Valley's housing market to have a steadier year in 2014. "Though stable seems boring, it's not a bad thing for a housing market to stabilize for a bit," he said. And last year's slowdown is over. Now, a rising number of young first-time buyers along with the people who lost houses during the crash, called "boomerang buyers," empty nesters and investors are seriously looking or purchasing houses in the Valley. The area's home sales are surging in the first months of 2015. Home prices climbed by 9 percent or more in 50 Phoenix-area ZIP codes in 2014. Several central Phoenix neighborhoods saw double-digit increases, signaling that more people want to live closer to job and entertainment hubs.  Home values have rebounded to pre-boom and crash levels in more than two-thirds of all metro Phoenix neighborhoods. This means more homeowners in most Valley ZIP codes, but particularly neighborhoods in central and north Phoenix, the southeast Valley, Scottsdale and Peoria can sell and either move up or downsize, which will help the area's shrinking supply of houses for sale. While homebuilding overall fell across metro Phoenix in 2014, new-home sales jumped in north Peoria, south Chandler and near Phoenix-Mesa Gateway Airport.  Here is the link to the entire article: http://www.azcentral.com/story/money/real-estate/catherine-reagor/2015/04/23/phoenix-home-prices-surge-projected/26222023/


Ed and Celia Maddox  

The Celtic Connection Realty Team

Solutions Real Estate

Ed and Celia



Celia is a past President SE Valley Women's Council of Realtors.  She has an e-PRO ,CNIE,PMN, CRMS, SFR LTGAAR, MRES designations.  We both have been in Real Estate since 2004 and have been Multi-million dollar producers ever since.  Ed is a Real Estate Broker and has the GRI designation.  We received the Centurion award when we were with Century 21 in 2004-2005.

About Ed and Celia prior to real estate career.  We have been married over 40 years.  We met while Ed was stationed at Kirknewton Air Force Base near Edinburgh, Scotland.  I was born in Edinburgh where my family still lives.  We have two grown daughters, granddaughter and a great granddaughter.  Ed had over 20 years experience as a Senior Corporate Auditor before an early retirement in 1996.  Ed specialized in contracts, business and accounting practices.  I have over 15 years experience in the social Services field, in addition to the real estate profession. 

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