Phoenix Area Real Estate MLS Market in Arizona AZ

Phoenix Area Real Estate MLS Market

Nationwide the housing market is in an aggressive recovery after suffering during and following the market collapse, and it’s believed this year will be a big year for many markets in Arizona. Some AZ cities did better than others, though. With Arizona housing markets rehabilitating in many areas especially in the Phoenix housing market, some cities are experiencing big increases in AZ home for sale prices.

“What a difference a year makes,” says Trulia’s chief economist. Last year “prices rose in 82 of the 100 largest metros, compared with just 12 metros seeing price increases the year before. This year price turnaround was strongest in the West and Southwest, where steady job growth and vanishing inventories lifted home prices by more than 10 percent in many markets.”

In the top five best “turnaround” housing markets in the real estate recovery of the United States, including the year-over-year change in asking prices, according to Trulia’s research, Phoenix housing market was 3rd. Strong in the nation’s top three largest appreciations is Phoenix, Arizona, which saw a 21.8% overall improvement and prices have risen in both of the past two years (26% last year and 4.2% the year before).

These Arizona housing market improvements show well for were all AZ property values are headed this year, the report said. Because prices accelerated particularly in the third and fourth quarters of the year after a slow start, it’s reasonable to assume rising prices will encourage more new constructions in Phoenix and entice more existing Phoenix area homeowners to put their properties on the Phoenix area MLS market again.

Some professionals have also said that there may be some slowing in the data statistics of the Phoenix area real estate MLS market acceleration over the coming year, simply because the improvement in the past six months or so have been so impressive that they likely cannot be repeated. This makes common sense, since recovery was so dire and so necessary for such a long time. Now the Phoenix area real estate market can start to enjoy stability not felt in half a decade.

To learn more about Phoenix area MLS market, connect with the top real estate team of MyOwnArizona today. Our team has over 40 years experience in the Phoenix area and beyond.

My best,
Carl F. Pepper, Realtor
carl@MyOwnArizona.com
www.MyOwnArizona.com
(760) 335-MYAZ