There is a lot you can say about the Phoenix real estate market. Forbes magazine just added one more thing. Despite the softening that the national real estate market has experienced of late, Forbes magazine has recognized Phoenix as one of 10 cities across the nation where it makes sense to buy again.
Forbes magazine, teamed with Moody’s Economy.com, recently studied the country’s 40 largest real estate markets and their homes sales patterns in order to project 2008 housing inventory, sales rates, and turnover. Matt Woolsey published these findings on October 8th, 2007 in his article, “Best Places for Real Estate Deals,” and, in doing so, identified the real estate markets that are most likely to enjoy an increase in sales during 2008 – one of them being Phoenix.
Both buyers and sellers in Phoenix can find solace in this projection. The good news for buyers: Median home sales prices in Phoenix are still comparatively low and affordable. The good news for sellers: Phoenix may finally be near the end of its recent trend of declining home sales. We love it when everyone wins.