Arizona Real Estate News

New Findings Released for Quarterly Homeowners Survey for Phoenix Metropolitan Area

Oct.  28, 2013- A new series of data shows that residents think it’s a good time to buy a home and that theirs is worth more than it was a year ago.

Arizona’s largest locally-owned homeowners association property manager, City Property Management has teamed with the Valley’s top economists at Elliott D. Pollack and Company to publish the Pollack-City Property Management Homeowners Confidence Survey. This latest edition contains data for the third quarter of 2013.

A pair of key findings were that 74% of residents said their home was worth more than it was a year ago, with 56% saying that it was a good time to buy a home, with only 9% saying it was a bad time to purchase a home.

The percentage of residents who said they plan to sell or list their home on the market has increased to 3.8% from a 3% first quarter figure, the first time this survey was taken.

The data for the survey came from neighborhoods in the nearly 300 homeowners associations managed by City Property Management.

The survey drew responses from 289 residents, of which 44% lived in the East Valley; 26% in the West Valley; 22% in Phoenix; and 8% from Pinal County, Carefree and Yuma. 83% of the respondents were single family homeowners and 17% were condominium owners. 

The Survey also found that:

  • 55% feel that current home prices in their neighborhood are about right
  • 63% cited a neighborhood park as the most important community amenity when deciding to purchase a home and 20% said a neighborhood community pool was the most important
  • Of the 37% of residents who said they planned to buy an appliance, 50% said a refrigerator was the home appliance they planned to purchase next followed by a home stereo system (13%).

Elliot Pollack said, “People’s perceptions are consistent with the economic data we are seeing. It will be interesting to track these perceptions during the next couple of quarters as the recent political turmoil in Washington D.C. trickles down through the economy.”

“I believe the survey shows definite improvement in the economy and consumer confidence is on the rise. I believe the data shows better value in the HOA versus non-HOA, and most  homeowners are satisfied with their HOA, and that HOA’s very much add value and sense of belonging to a community,” said Brian Lincks, President of City Property Management.

To view the survey, go to and view under City News.

City Property currently manages nearly 300 homeowner associations in Arizona, some for as long as 20 years. City Property believes Valley residents often have peace of mind knowing a Valley family with more than 160 employees is managing their day-to-day comfort as well as the long-term preservation and enhancement of their neighborhoods.

Original article here