The W.P. Carey School of Business’ February housing report reveals that new home sales are showing the largest percentage price increase in all three measures over the last year for the greater Phoenix area.
So here we are, December, again. As I get older it certainly seems to get here faster every year. I feel like I was just chatting with folks about what may happen in real estate in 2013. It turned out we had some interesting things happen here in our market. The year started off strong with lots of appreciation and a great demand from buyers. The buying frenzy continued through June until it sort of fell off a cliff in the summer. When we usually see the October pick up, the government shut down for three weeks and that changed the typical cycle for that time of year. We had a nice increase in buyer interest towards the end of the year and from what we can see now the spring season will be typical for our area.
In the wake of the downturn that launched in 2008, it’s old news by now that the construction industry took a massive hit. Nearly half of those in the construction business were forced to find work elsewhere. Today, even as the housing market — and by default the contracting industry — rejuvenates, reports over the summer showed a weaker pool of skilled labor available to meet the spike in demand for new homes. But you wouldn’t know it by all the new homes that will be available in Ahwatukee!
Construction is under way at the new Lennar Homes subdivision near Desert Vista High School in Ahwatukee Foothills and because of a significant amount of interest, the company is allowing people to purchase homes before the models are even built.
What has been the biggest concern for the future of Ahwatukee for years will remain at the top of the list moving into 2013. There has still been no decision made on whether or not the South Mountain Freeway will run down Pecos Road.
When the economy goes south, property values plummet, the
unemployment rate skyrockets and foreclosures soar, what does the
average American do? Based on new evidence, it seems they turn to
The Ahwatukee Foothills News hosts a forum with the 9th Congressional District US House of Representatives candidate Andrew Walter.For more from this forum, see our playlist: https://www.youtube.com/playlist?list=PL8ZTVzyUoWKlnx1J8_dcjjX94IwjMgeS5[Video: Vincent Cota/Ahwatukee Foothills News]