First Time Central Arizona Home Buyers

The Arizona Republic, reports that the median price of an existing home jumped to $221,000 in April, a 35% rise since April 2004 , according to the Arizona Real Estate Center at ASU. In the same time frame, incomes rose only 2%. For those looking to get into a home for the first time, times are getting tough. With housing prices rising and incomes flat, more and more people are being priced out of the market. Many people are stretching themselves to buy a new home, hoping that their incomes rise. The rising prices are forcing more and more people to the fringe areas (Pinal, western Maricopa County) to get into a home.

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