Several real estate markets are showing signs of recovery, with median home prices and sales rising. But which markets are showing some of the strongest signs of recovery?
24/7 Wall St. recently evaluated home price changes for the year ending in July, foreclosure data, the unemployment rate, and other factors to help determine which housing markets are performing some of the strongest. The states that emerged on top of the list are:
1. Arizona Home price change in the last year year: +16.6% Median home price: $248,229
2. Idaho Home price change in the last year: +10% Median home price: $85,000
3. Utah Home price change in the last year: +9.3% Median home price: $129,000
4. South Dakota Home price change in the last year: +8.3% Median home price: $101,700
5. Colorado Home price change in the last year: +7.3% Median home price: $240,000
Listings in Phoenix, Arizona are currently receiving multiple offers which is causing prices to increase. Higher priced areas like Scottsdale and Paradise Valley are also see a spike in real estate prices. Now is a great time to buy before prices go any higher.
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