Real estate prices in Greater Phoenix rose 20% over last year and the overall U.S. real estate market is stable

Real estate prices in Greater Phoenix rose 20% over last year and the overall U.S. real estate market is stable U.S. Department of Commerce data showed that U.S. new home sales dropped month-on-month in June...

Real estate prices in Greater Phoenix rose 20% over last year and the overall U.S. real estate market is stable Data from the U.S. Department of Commerce showed that U.S. new home sales fell 8.4% month-on-month to 350,000 in June, a five-month low and the largest drop since February last year; the median price of new homes in June fell 3.2% year-on-year; the seasonally adjusted annualized number of new home construction in July fell 1.1% month-on-month to 746,000, lower than the expected 757,000. Data from the National Association of Realtors showed that the U.S. second-hand home sales index unexpectedly fell 1.4% to 99.3 in June, falling short of market expectations for a 0.2% increase. The U.S. real estate market has come out of the bottom stage, especially in the greater Phoenix area, where prices have increased by 20% compared with the same period last year; more new employment opportunities continue to arrive. Of course, there are many government policies to stimulate the housing market: First, the U.S. government has continued to lower market interest rates through massive purchases of mortgage securities and treasury bonds. According to Freddie Mac, by the end of July, the 30-year fixed mortgage interest rate in the United States had dropped from 3.53% to 3.49%, and the 15-year fixed mortgage interest rate had dropped from 2.83% to 2.8%. Second, the continued improvement of the U.S. job market has made it possible for the homebuying team to grow. Although the U.S. unemployment rate rebounded slightly to 8.3% in July, it was still 1.7 percentage points below the 2009 peak. There were 163,000 new non-farm jobs added in July, the largest increase since February this year. For more real estate information, please contact Goldtrust Realty Tinna480287-0180 E-mail: Goldtrustrealty2010@gmail.com.