According to a report recently issued by CoreLogic, data suggests that the Phoenix real estate market has played a significant factor in Arizona's ascent to the top of nationwide rankings for home price gains by state. Just last August, Phoenix home prices jumped up by about 18%, and the market is showing no signs of slowing down. If anything, the higher prices have been met with a flurry of market activity as buyers scramble to make bids before other potential buyers have a chance to stake their claim on the Phoenix housing inventory on the market.Phoenix Homes Increase in Value

Financial experts agree that the Phoenix housing market is on the road to recovery, and is likely to continue this momentum. As a result, time is of the essence when it comes to making your first bid on Phoenix real estate. There is likely to be an increase in demand that leads to a shortage of inventory for at least the next few years, according to real estate professionals, and continued economic growth in the area will give the housing market an additional boost.

Usually, the trends in the Arizona housing market exaggerate trends nationwide. In this case, Phoenix real estate prices jumped up by almost 20%, while Houston home prices ranked second on the CoreLogic list increased by a paltry 6.4%. The nationwide attention given to the Phoenix market has only served to heighten the flurry of activity, which is a welcome change when compared to the recession that left the Phoenix housing market in a state of disrepair only a few years ago.

As the Phoenix real estate market continues to evolve, I'd like to help you navigate market trends so that it's easy for you to purchase your next Phoenix home. Please let me know if you have any questions about Phoenix short sales or foreclosure properties that might have piqued your interest in your search.