Not only have home values in the US gone up the most in 6 years, Arizona real estate increased the most.
Home prices when up 8.3% from Dec 2012 over Dec 2011 which was the largest increase since May '06. Values improved last year in 46 of the 50 states. Arizona increased an average of 20.2%.
Arizona does not have many properties on the market and many are selling in just days. Many seller's are trying to take advantage of the increase in values as well as the low inventory and asking higher prices. You need a Realtor specializing in many neighborhoods and able to help you determine the real market value before you make an offer.
Many economists expect values to continue to rise this year for previously owned homes. New home builders are getting more confidence in breaking ground and started more homes in 2012 than in the last 4 years.
Assisting the housing markets improvement are the low interest rates and job growth throughout the country.
RooPho Realty covers the entire Metro Phoenix real estate market. Contact Chris@RooPhoRealty.com for more information on the market and the area you want to live.
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