Experts see Phoenix home prices increasing

By Catherine Reagor

The Arizona Republic

Metro Phoenix home prices are expected to continue climbing during the next few years.

Housing analysts agree that demand for homes in the region is strong, and many don’t appear to be concerned about prices rising too fast and shutting the door on regular homebuyers or investors.

Several experts are looking for metro Phoenix home prices to climb more than 10 percent annually during the next three years.

“We think Phoenix home prices will appreciate 12 percent in 2013, 12 percent in 2014 and 10 percent in 2015,” said national housing analyst John Burns of Los Angeles.

He said the price increases will be driven by “boomerang” buyers who purchase after waiting three years — as required under new credit standards — following a foreclosure or short sale.

Continued:

If you’d like to discuss real estate matters, contact Rose Law Group Founder Jordan Rose, jrose@roselawgroup.com

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October 29, 2012

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