Phoenix-Scottsdale Housing Heat Up
Amy Koch Blog – August 2012
Your Local Canadian Housing Expert for the Greater Phoenix-Scottsdale Market.
As the Summer winds down the Phoenix-Scottsdale Housing Market continues to Heat Up!
Housing stock continues to shrink, buyer interest remains strong as evidenced by multiple bid situations for most re-sale listings and the supply constrained re-sale market is causing buyers to move into the New Home market and home prices are increasing. According to ASU’s Mike Orr, new single family home sales increased by 39% from June 2011 to June 2012 demonstrating an upward trend in new home sales specifically concentrated in the Southeast Valley with Gilbert leading the way.
There are many great amenity based master planned communities in this area that Amy can introduce you to. New Home Builders have restructured pricing to compete with the distressed market, though they offer the benefits of buying new such as upgrade packages, golf memberships and warranties. Let Amy show some of the great New Home opportunities.
After a major bump in the road, Greater Phoenix again ranks among the nations leaders in net job formation, the unemployment rate is below the national average, retail activity is up, foreclosures are down, consumer confidence is up, new and resale home demand is high, and home prices are increasing leading the nation in year over year appreciation.
Though the market is moving fairly quickly the opportunities are still abundant whether you are looking for New Homes or Re-sale Homes, Second Homes or Investment Properties. This is the ideal time to invest in the Greater Phoenix Real Estate market and Amy can help you, your friends, family or colleagues.
The Phoenix Economy has finally turned positive and the region is yet again leading the nation in the recovery.
• 45,300 new jobs in last year ranking 7th in the US
• Median home prices are up 30% from June 2011
• The Canadian Dollar is still Very Strong Home
• Over 330 Days of Sunshine, World Class Golf, Restaurants, Shopping and Lifestyle
• Median prices still only 53% of home prices in June 2006
• Homes must appreciate by 90% to reach Peak Values
In other words there is still plenty of upside and now is the time to buy in Phoenix. Prices are still relatively low but have stabilized and are slowly creeping up. This Generational Opportunity won’t last forever!
Visit www.AmyKoch.com to learn more about buying real estate in Arizona. 602.386.7343