Of the four Arizona metros, Phoenix-Scottsdale has experienced the strongest gain in home prices since 2011.
Cities named in the Index have shown at least six consecutive months of improvement in home prices, employment, and housing permits. Here's how it looks for Phoenix-Scottsdale:
- Home prices are up 13.6% from their low point in June 2011
- Employment has improved by 4.3% since Sept 2010
- Housing permits are up by 4.3% since March 2009
Arizona's housing recovery is also noted in a report by 24/7 Wall Street, which ranked Arizona as #1 in price improvement. According to their analysis, Arizona home prices increased 16.6% from July 2011 to July 2012. Statewide, the median home price as of July 2012 was $248,229.
We are still far from the market peaks of 2007. Distressed properties will continue to affect Arizona real estate for some time to come. However, it is the opinion of industry analysts that we have seen the bottom of the real estate market! With improvements to the short sale processes, continued low interest rates, and strengthening local employment, our home prices will improve at a gradual pace.
Fountain Hills is well-positioned for growth, having the advantages of natural beauty, ample recreation, and proximity to corporate centers, shopping and dining. If you are considering a move to Arizona, start by looking at the beautiful Fountain Hills homes available now!
Whether you are buying or selling a Fountain Hills home, put your trust in my 33 years of local real estate experience! I can help you make the most of today's opportunities in the Fountain Hills real estate market. I will also provide you the courteous, professional service you can count on! Contact me today for help with all of your real estate questions!