Phoenix Rising from the ashes~ Top Ten Real Estate Turnaround Towns!

phoenix real estateRealtor.com recently ranked Phoenix, Arizona the #2 spot for the Top Ten Real Estate “Turnarounds”.  8 of the other “Turnaround Towns” were in Florida along with Boise, Idaho.

According to the report:

#2 Phoenix-Mesa AZ advanced two places on this Top 10 list between the third and fourth quarters of 2011. It now holds the second place position on Realtor.com’s Top 10 Turnaround Towns. One of the areas hit hardest by foreclosures, Phoenix today still generates one foreclosure filing for every 317 housing units. Median list prices in Phoenix are up 15.38 percent on a year-over-year basis, but the market has to regain ground on what was lost in recent years.  An uptick in demand driven by foreclosure bargains has contributed to a 27.47 year-over-year decline in the local median age of inventory.  Unemployment in November was only 7.7 percent, below both state and national rates.  With inventory in check, an improving local economy and growing demand, it’s only a matter of time before Phoenix returns to stability and lasting home value appreciation.

Of course, to us working in Real Estate in the Phoenix metro area, this is not news.  Properties selling in a day or two with multiple offers driving up the purchase price it’s like deja vous all over again.
I have one word for this.
“Yay.”
About The Amy Jones Group

Mindy Jones Nevarez is the owner of Amy Jones Group Keller Williams Integrity First. The Amy Jones Real Estate Group has been recognized as the #1 Real Estate Team in Chandler by the Phoenix Business Journal and voted Best of Our Valley for 4 years.

The Amy Jones Group specializes in real estate in Chandler, Sun Lakes, Gilbert, Mesa, Tempe, Ahwatukee, and Phoenix.