Majority of Prescott AZ renters not buying homes soon

buy-rent

Rents may be rising and consumers may be feeling the crunch when it comes to their personal finances, but 70 percent of renters still believe that renting is more affordable than owning a home and 55 percent of renters plan to continue renting for at least the next three years, according to a quarterly survey […]

Prescott Home Values are Still 15% Off ’06 Peak

Prescott-Home-Values-2-16-3e2aae

According to the latest Zillow market statistics, average Prescott homes values are still 15% lower than they were at their peak in September, 2006. Zillow’s latest numbers show February 2016 average value to be $305,000 down from $357,000 in September of 2006. And they project slow appreciation next year with less that 2% growth. For […]

Analysts Predict Ongoing Improvement for Housing in 2015

improvement

I’ve been feeling bullish about the local market in Prescott for the last year or so, but here is some validation of the national picture. With only weeks left before 2014 comes to a close, many economic commentators are already looking to what next year could bring—including Frank Nothaft and Len Kiefer, chief economist and […]

Housing Report: Spring Expected to See Increased Growth from Q1

Growth

Following a slowdown in activity over the previous two quarters, Fannie Mae’s Economic & Strategic Research Group expects economic activity to pick up in the second quarter of this year, bolstered by increases in the housing sector, consumer spending, and business investment. Fannie Mae expects economic growth in the first quarter to come in around […]