The Phoenix metro housing market continues a strong rebound in 2012. Factors for the rebound? Diminishing supply of homes, fewer foreclosures, record low mortgage rates, out of town cash investors, pent up demand from buyers that have been waiting and the fact that the Valley of the Sun is a good place to live.
The Phoenix Business Journal reported on July 16 that the Phoenix metro area is among the leaders in the nation in price recovery for residential housing. For more information and the Phoenix Business Journal article dated: http://www.yourwestvalley.com/valleyandstate/article_073b4758-cf89-11e1-a55a-001a4bcf887a.html
As reported, “Economists say the upward trend in the Phoenix area may serve as a beacon of hope for other cities across the nation that suffered when the housing bubble burst.”
Meanwhile, buyers are witnessing multiple offers and bidding on homes above the list price.
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