Is Phoenix headed for another Real Estate run-up or is this the sign of a healthy recovery?

Phoenix has seen it’s share of highs and lows in the real estate market over the past decade.  Price jumps of 50%+ in 2005 and 2006 were quickly negated by drops in values of over 60% on average.  Recently, homeowners have seen many positive indicators that the real estate market here is not only on the mend but is posturing itself for a healthy recovery.  Decreased demand in the past 3-6 months has created an increase in pricing here in the valley.  This has enabled many homeowners that saw values drop dramatically over the past few years, get back on track and recover some of that loss.  In fact some listings that have started out as short sales have in fact ended up as traditional sales due to the increased sales prices and values we are seeing.  For more on the story, check out

 

Phoenix Housing Market Sees Signs of Health

 

And, if you or someone you know are looking to buy or sell property here in the Phoenix area, let me know so that I can share this information with them as well.

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