More Market Updates
There was a builder forum Monday in Phoenix that drew more than 1000 industry players including builders, land brokers, bankers, developers and government officials. In addition to reviewing the past years numbers, forecasts were given concerning the future of the Phoenix real estate market. R.L. Brown, one of the top real estate analysts, stated that Phoenix could maintain a pace similar to that of the last year. 2005 saw a record 63,570 permits for new homes, about a 4.4 percent gain over 2004's record. Although Brown expects the market to slow to around 60,000 permits, that is not much of a slowdown. He also states that he believes the Phoenix area could reach 65,000 permits sometime in the next five years. As many analysts state, job growth and population growth are expected to continue. That will help sustain the market. Additionally, although prices rose dramatically over the last year, the Phoenix area still has more affordable housing than many other western cities.
If you are looking for your own property to help make these numbers true, please feel free to contact us for assistance.
Adam Tarr and Sharon Kotula
Your Phoenix Area Real Estate Source
RE/MAX Excalibur
Scottsdale, AZ
info@weareazrealestate.com