Arizona Is Coming Back

Based on CoreLogic’s research Arizona is making its way back up. From 2012-2013 foreclosure sales are down a whopping 50%. This drop in foreclosures competes as the second largest drop with California taking the lead as number 1.  Our foreclosure rate in Arizona is less than 1% which is the 9th lowest in our great nation. With our foreclosures down we have had the time to start our much needed recovering in 2013. As of October we have realized a 27% appreciation in values from the year prior.  Median Phoenix home price reached $200k. This appreciation was a direct result of our lack of supply and of course the ever growing demand.  As of October we had 17,851 listings on the market, with a 40% increase from a year ago. Don’t be alarmed by the growing inventory, as there is still an imbalance of Buyers to Sellers.

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