Housing market in Arizona

The median home value in Arizona is $219, 000. Arizona house values went up 7.8% in the last 12 months and Zillow predicts they rise 3.3% over the following 12 months. The median record cost per sq ft in Arizona is $139. The median cost of domiciles presently listed in Arizona is $255, 000. The median lease cost in Arizona is $1, 250.

Foreclosures is going to be a factor impacting house values within the next a long period. In Arizona 1.3 domiciles tend to be foreclosed (per 10, 000). This is certainly less than the national worth of 1.4

Home loan delinquency could be the initial step in foreclosure procedure. This is when a homeowner doesn't make home financing repayment. The per cent of delinquent mortgages in Arizona is 0.0%, which will be lower than the national value of 0.0percent. With U.S. home values having dropped by a lot more than 20percent nationally from their top in 2007 until their trough in late 2011, numerous property owners are now actually underwater to their mortgages, indicating they owe a lot more than their house is worth. The percent of Arizona residents underwater on their mortgage is 0.1per cent.