Your Arizona Expert

The Market is Improving!

Published On: February 1, 2012

Numbers don't lie . . . and the numbers coming in for Arizona real estate shows a market that is finally improving. Our inventories are at all time lows - just about where they were in the peak of the market frenzy in 2005. This means supply is down. Foreclosures and short sales have peaked and are falling substantially . . . only nine percent of homes sold in December 2011 were lender owned. This is a significant drop from just six months ago.

With interest rates at all time lows and home prices beginning to push up, plus the rules of low supply and increasing demand - we are headed for a recovery. Some experts predict 5-10 percent in appreciation increases over the next year, but others are even more optimistic. And it is about time!

If you have been thinking about buying, now is the time. Selling? with inventories so low, this might be the time to list your property. Of course, price still matters and we have a long way to go till we become a "healthy" market. But at least real estate is on the mend and that is good news!