Quite a bit of promising real estate news for the Phoenix real estate market in the past week or so:
Phoenix-area home-price dip called a ‘natural reaction’
Metro Phoenix home prices continued to cool off in July, dropping about 1 percent from June but remaining almost 31 percent higher than they were a year ago, Arizona State University reported Thursday. <more>
Hottest and coldest US housing markets – Phoenix #1 Hottest Market
Phoenix, up 13.9 percent. The combination of fewer foreclosures coming onto the market and investor demand for bank-owned homes has created bidding wars, driving prices higher. But sales of bank-owned homes sank to the lowest level in nearly 4½ years last month. <more>
Real estate gone loonie: Canadians snapping up luxury homes
A strong Canadian dollar and Arizona’s depressed housing market have created an opportunity for Canadians looking to capitalize not just on the exchange rate but a strong economy back home.
Canadians purchased 11,400 homes in Maricopa County in 2011, according to the Maricopa Association of Governments. <more>
Phoenix #2 for construction job gains
Arizona is still struggling with a construction labor shortage in the aftermath of the recession, but the latest federal data shows the local industry is making encouraging strides out of its years-long rut. <more>
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It pays to have a diverse staff: we get calls from investors who have come to Phoenix from Australia, Canada, and Russia! The foreclosures are being bid up to and over market value, so the focus is shifting to short sales, FSBOs and even the MLS!