I don’t know about you, but I’m sure ready to hear some good news about home values. I must confess that I signed up for the monthly updates from Zillow, and for the last two months, there have been negligible, but POSITIVE increases in my home value. I realize that Zillow is providing me generalized information, and I use it more for watching trends rather than assess actual value. Like any home owner, the thought that my house might actually be worth more than it was a few months ago is welcomed news.
It turns out that real estate appreciation values in Scottsdale are improving, slowing, but surely, since the summer of 2009. While we are not solidly back into appreciating values for single family homes, we have seen a couple of bounces into the positive. I realize that this seems to totally contradict my post from yesterday, but it really doesn’t. Yesterday’s information was about home listing prices, and today’s data focuses on actual sales prices. What I believe that we are seeing is home listing prices coming more into alignment with the market, which is in turn stabilizing prices. We’ll know more in the next six months as we see how the spring selling season goes.
Past posts related to Scottsdale real estate appreciation:
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