Yes, Arizona real estate is on the upswing.
Take a look at this chart from Mike Orr at the Cromford Report.
In February 2010, Arizona was one of the top-ranked (not a good thing) states in distressed properties:
- Non-current home loans –# 3 (after FL, NV)
- Late but not in foreclosure –# 6 (FL, NV, GA, MS, MI)
- In foreclosure –# 4 (FL, NV, NJ)
Just over a year and a half later, the real estate scene is remarkable improved:
- Non-current home loans –# 27
- Late but not in foreclosure –# 29
- In foreclosure –# 23
A dramatic improvement, wouldn’t you say?
More on the current local real estate market:
- Chris Butterworth provides an excellent commentary on our local distressed property market: Maricopa County Sales Charts – December 2011
- Phoenix Real Estate Market Update – Prices are up & inventory is still falling
- Phoenix-Mesa-Scottsdale #2 on List of Soaring Home Prices
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December was my best month for home inspections in the east valley all year. If I was not at the ASHI Conference the first week in January, this month would be stellar too.
Buyers are hopping, It is not uncommon for an agent to show a home for one client while I am inspecting it for another.
I hope your 2012 is great.
Good news regarding number of inspections. Best to you in 2012, too!