For the past 4-5 years Arizona, as well as Florida, Nevada & California, has been in the news as some of the hardest hit states for Real Estate. Prices have fallen about 40% in these markets since 2007. With a glut of homes and short sales & foreclosures dominating all sales, the market was by and large in favor of buyers.
Finally there has been some accurate reporting in the news relating to what is really happening in the Arizona housing market. Market conditions are favorable. Inventory is down significantly in Arizona!! In the past year we have seen a lot of investors getting into the market. They are not only buying up the foreclosed homes but the number of investors buying homes at auctions has increased from 20% to about 40%. In fact approximately 40% of all homes sold last summer were cash buyers. Read More...
