47% increase in PHX!
Good evening!
You may have heard by now, but according to USA TODAY, the Phoenix area had the biggest price gains (47%!) of 149 metropolitian areas surveyed by the National Association of REALTORS, from 2nd quarter of 2004 to second quarter 2005! The median gain was 13.6% - and set a sales volume record.
Of course, news like this was a front-page headline in local papers, and lead story on most newscasts. The secret is out! Phoenix is a great place to invest in a home!
The best part is, all the economists and market experts quoted said that they don't foresee a 'bubble' on the horizon - just an eventual slowing to a 'regular' appreciation rate. However, there is still far more demand than supply in the Phoenix area home market - meaning it's going to take a while to slow down.....
Tomorrow, we'll list the top 10 markets for price gains....
Sharon Kotula and Adam Tarr
Proud to be your Phoenix Area Real Estate Source!