The Future of Arizona Real Estate: We have all seen the housing markets do their thing over the last few years. Chances are, if you are a home owner today, you have a much different perception of real estate and what it means to get in or out of the market.
In an industry that is historically dominated by investors that buy up “fire-sale” properties, who then flip them back into the market; identifying the proper trends of your particular area can be a little difficult. There are several reasons for this, not the least of which is the plethora of information which exists for consumers.
Too often the market advice comes from unreliable sources which shape “perceptions” of what the real estate market is actually doing. But this over stimulation of information is not all bad. It simply means that you need to be able to separate the chaff from the wheat. We know that by reviewing some of the most basic statistics and analytics of the housing industry, that the real estate market is finally seeing some “bounce-back” from 2007-2008 housing bubble which collapsed nearly the entire industry.
In a 2012 article, CNN identified the top 100 areas who were most impacted by the American Foreclosure epidemic. Of all of these areas, none were hit harder than those markets in the South West Region of the United States. Having been in Arizona at the time, I can assure you that this was a situation of epic proportions. Foreclosure rates skyrocketed, new construction halted to a stand-still, and investor purchases went through the roof.