Are we in a housing recovery? That depends who you talk to…This week Realtor.com came out with this report saying that nationwide inventory has declined by 21.48 % in March 2012 compared to a year ago, in all markets except Hartford Conn. and Philadelphia. If the market continues this way we could be in the beginning of a housing recovery. Phoenix Metro is showing a 48% drop in inventory and is also one of 4 areas where year after year there has been an increase in median sales price, median sales price is now at $179,000 up 23.45% from last year.
I can definitely notice the increase in pricing and how fast homes are selling in Fountain Hills. If a home is attractively priced it will be under contract in a matter of days. Buyers moving here from out of state are having a hard time grasping the reality as they seem to think they can still get a bargain. I tell them considering homes are about 50% off the peak price of 2005 you have to consider yourself lucky to be able to still find a fairly affordable home.
If you are sitting on the fence about buying Fountain Hills real estate I would strongly reconsider and get moving..literally!! You can contact me via email or at 480 888 6708 and I will be happy to answer any questions you have about Fountain Hills neighborhoods, price trends, short sale, etc.
