Current Local and National Market Conditions

This is a quick overview of what is going on in real estate and mortgage lending locally and nationally sent to me by First American Title today.  It is very important to let our clients know (the positives and the negatives) so they can "stay informed" which will also assist them in making important decisions regarding their personal real estate needs! 

LOCAL

• July home resales (Maricopa County) dip to 4,330 The Business Journal August 9^th, 2007
• National Realtors group predicts housing slump to continue through 2007 The Business Journal August 9^th, 2007
• July foreclosures jump 170% in Maricopa County The Business Journal August 9^th, 2007

NATIONAL

• Subprime standards tighten Associated Press August 14^th, 2007
• Countrywide to buy some assets from exiting Homebanc Bloomberg News August 8^th, 2007
• Sales headed for 5-year low, real estate group predicts Associated Press August 9^th, 2007
• U.S. home loan applications up 8.1% last week Associated Press August 9^th, 2007
• Lender's troubles resonate in Arizona The Arizona Republic August 12^th, 2007
• More markets show home-price increases (sales down but 97 of 149 markets increase) MarketWatch August 15^th, 2007

Have a great day and keep moving forward!