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CATHERINE REAGOR REAL ESTATE
gap The housing
February and March home sales look strong Metro Phoenix draws many visitors seeking sunshine, baseball and homes in February and March. The Valley’s housing market typically gets a boost during these months, when it’s a hub for spring training. That sets the pace for the year. If homes sales from February are a sign, it could be a strong year for the market. And though March’s final numbers are still being tallied, real-estate agents are reporting they were very busy last month. For instance: Âť During February, 6,330 singlefamily homes sold in metro Phoenix, according to an analysis from housing analyst Mike Orr of the Cromford Report tallied for The Arizona Republic/azcentral. That’s up 7 percent from February 2015, which was definitely a better year than 2014 for the area’s housing market. Âť The median price of single-family home sales was $230,000 in February, up more than 8 percent from last year. Âť Valley condominium sales are up 18 percent from last year, and the median price climbed about 3 percent. “Demand is warming up quite nicely,â€? said Orr, who left his post at Arizona State University’s W.P. Carey School last month. “March sales volume was well ahead of last year.â€? He started tracking the Valley’s housing market more than a decade ago, before joining ASU in 2011, through his Cromford Report and will continue to do so. Real-estate agent Mary Campbell Gomez of RE/MAX Professionals in Surprise said she’s been “very busy.â€? “Spring training baseball always brings in more buyers, especially when we have the World Series winners here in Surprise,â€? she told me. The Kansas City Royals train during February and March at Surprise Stadium, one of 15 that bring many fans and potential homebuyers to the area. Many baseball players have Valley homes they use when they are here for spring training. Early indicators show March was a strong month for home sales in metro Phoenix, too.
ILLUSTRATION BY RACHEL VAN BLANKENSHIP/GANNETT
Study: Housing gridlock caused by inability of buyers to move up PAUL DAVIDSON USA TODAY
Gridlock in the housing market that’s slowing both first-time home purchases and trade-ups to better units is the chief reason for a persistent housing shortage, according to a new study. The report by online real estate site Trulia casts doubt on the wide-
spread belief that a scarcity of new construction is the main cause of a crunch that has driven up home prices and slowed sales. Instead, the study says, a yawning price gap between mid-level and preSee GAP, Page 3R
See REAGOR, Page 3R
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