*According to the Arizona Replublic:
a) 2011 is the first year of overall job growth since 2007.
b) Our current inventory is 2.9 months, the lowest since 2008.
c) In June 2011 Arizona recorded the highest number of home sales for any month in the last 10 years.
d) Interest rates are hovering at 4 to 4.25 on FHA.
Hummm, "maybe we should wait until interest rates go up to 6.25 again or until I get priced out of the market,"seems to be the general direction.
Funny how the buyers seletions, without changing preferences, get smaller and smaller yet they JUST heard on the news maybe they should wait another 6 months to a year.
WAY TO STIMULATE THE ECONOMY.. AND THANK YOU!!!
tl;dr Investors do, buyers not necessarily.
Here are the things that wonâ€™t change in Phoenix for 8 years:
â€¦Many more foreclosures on the way in the Phoenix area.
â€¦Canadians are buying properties with cash.
â€¦Phoenix is a really hot 110 degrees
â€¦Layoffs coming soon
â€¦Property taxes are increasing.
Itâ€™s not the end of the world and the sky isnâ€™t falling. So take a couple days off from work. Drink a few Margaritas by a pool and relax. Stop over thinking about the Real Estate market. Take a vacation and enjoy life.
Read this = http://www.azcentral.com/news/articles/2011/08/28/20110828az