Home Prices in Arizona Rising...

The home prices in United States rose the most in December in 6 ½ years. Amongst these, Arizona seems to be the highest amongst the other states. CoreLogic, a real estate data provider on Tuesday that the rise in the price of homes was encouraged by less number of homes available and rise in demand for homes have pointed it out in a report. The homeowners may contact Hunter Financial Group to buy home in Arizona.

The price of homes increased by 8.3 percent in December in comparison with the previous year. This seems to be the biggest yearly profit since May 2006. The price of homes has increased over the last year in 46 of the 50 states.

This included distressed sales, the five states that had the maximum home price approval in December were: Arizona 20.2 percent, California 12.6 percent, Hawaii 12.5 percent, Idaho 14.6 percent and Nevada 15.3 percent. These states also had the highest home price approval in December: Arizona 16.4 percent, California 12.8 percent, Hawaii 11.7 percent, Nevada 14.7 percent, and North Dakota 10.8 percent.

Steady increases in the price of homes are helping raise the housing recovery. As such, potential homebuyers are being encouraged buy homes before the price rises further.

It is expected by most economists that the price of homes will keep rising in the present year. Sales of earlier occupied homes attained their maximum level in five years in 2012 and will probably keep on growing. Homebuilders, who are encouraged by rising interest rate from the customers, broke ground on the new houses in four years last year.

Due to low mortgage rates and steady jobs, there is more of a demand for houses on the market. At the same time, the number of formerly occupied homes for sale has fallen to the lowest level in 11 years.

Hunter Financial Group has the Mortgage Professionals that can provide you the answers to any questions you may have about the current market in Arizona.