Due to the low supply of housing in the greater Phoenix area, Prices began to rise after a correction in January

Prices in the greater Phoenix area began to rise after a correction in January due to a low supply of housing. Housing prices in the greater Phoenix area are currently relatively stable due to a low supply of housing. Starting from January...

Housing prices in the greater Phoenix area are currently relatively stable, but prices have continued to rise since January due to the low supply of housing. The head of ASU's School of Realtor Theory and Practice said housing prices eased slightly in January, but will continue to rise from February to June. There is nothing strange about this phenomenon. It will only change when new properties enter the market. Housing transaction volume fell 12% in January compared with the same period last year. This is because the number of bankrupt homes and short-sale homes this year is 40% lower than last year. The number of houses on the market is now only 50% of normal, which has caused prices to continue to rise. It's a seller's market right now, and houses under $500,000 can attract multiple bids for purchase contracts. To avoid this bidding war, many buyers choose to purchase a new home. Over the past year, new home sales have increased 61%. Investors are continuing to buy homes, but at a much lower level than last year. In January, 32% of homes were purchased by investors, all of whom were cash buyers. In January 2012 investors almost exceeded 40%. For more information about real estate, please contact Tinna of Goldtrust Realty (480) 287-0180 E-mail: Goldtrustrealty2010@gmail.com