Housing experts predict Phoenix market to improve in spring season
Real estate experts predict the 2012 spring season to include significant home selling improvements in the Phoenix-area market. Following February’s national 9 percent increase in existing home sales, various elements indicate further improvements, according to the National Association of Realtors.
Homebuyer and housing experts’ confidence in the housing market are up, buoying positive reflections and leading to an increase in buying potential. Coldwell Banker claims website traffic was up 47 percent in February from last year, reports USA Today. This indicates greater interest in home buying by consumers. In addition, home prices have been up for the past three months.
Homebuyers in the Phoenix area are entering a strengthening housing market. According to NAR, Phoenix will do the best out of the majority of metros in the nation, with a 42 percent drop in home supply, a relatively strong economy and a 5 percent price gain this year.
The improved market will make purchasing an existing single-family home in Phoenix a smart financial investment for homebuyers who have done their homework and bought within their budget. People may want to research properties off the MLS listings in Phoenix to gain insight to the market.