Southwest Valley homebuyers to see higher prices, less competition from investors

By Cassandra Strauss | The Arizona Republic

As warm weather signals the start of the peak home buying season, Southwest Valley buyers will see higher prices but less competition from cash-wielding investors, experts say.

Plus, there are more signs that the Southwest Valley is shaking off the Great Recession’s housing slump. Homebuilders are buying more lots in communities where the original developer installed utilities and built roads but never built houses.

The housing figures are part of a March report released by the Center for Real Estate Theory and Practice at the W.P. Carey School of Business at Arizona State University.

Rising home prices in the Southwest Valley and throughout metro Phoenix have prompted investors to go elsewhere for a good deal, Avondale real-estate agent Joe Bourland said.

“The good house for $70,000 has gone,” Bourland said, adding that out-of-state markets, such as Las Vegas and Atlanta, still offer homes at much lower prices.

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If you’d like to discuss real estate matters, contact RLG founder Jordan Rose, jrose@roselawgroup.com