DECEMBER 12TH, 2018

Arizona Mortgages

The housing statistics in Arizona are as follows.
The total number of housing units in the state is 2,189,189. Of those 2,189,189 units, 1,244,172 of them are single unit detached domiciles, which accounts for 56.8% of the total housing units. The next most common housing units are mobile homes, of which there are 302,575, making up a total of 13.8% of the total housing units in the state. The median value of a home in Arizona is $121,300, with the highest number of homes being in the $50,000 to $149,999 range. Homes in that price range make up over 60% of the total housing market,. So much of the market is covered by this price range that it will be rare to find available units outside that range, as it should be noted that this statistic represents the average home value, not the median value for available homes.

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New media reports indicate that Arizona property is becoming a hot commodity, with property values in Tucson going way, way up. Property values went up an incredibly 26.7 percent in October, 2004 over the same month in the past year. The average house in Tucson Arizona, now can go for $226,000, according to the Tucson Association of Realtors. In fact, demand in the area is so great that many builders are holding lotteries as the fairest way to dole out the limited number of homes.

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Word is that experts in the realty and home market have certainly taken notice, and are optimistic about the trend continuing. “New Home sales continue to soar as well,” according to Betty Grace, a realtor. “New Home average sales price: $214,942 over $195,815 of 2003 an increase of 12.7 percent. Now is the time to jump on board and become an investor in you own house, or purchase as an investor in your own future. Rates are still historically low, the holidays are just around the corner, and you can still get moved before the new year.”

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