The Start of the Housing Upturn

For over 6 years the Arizona housing market has been in a downturn. Falling prices, lower buyer demand, rising inventories and distressed properties have plagued the market – and in turn the economy.

Are we finally coming out of the downturn and starting the upturn? There is evidence to support that we are. Sure, there are still headwinds of unemployment, foreclosures, depressed prices, and strict lending guidelines, however it finally seems that home buyers are taking advantage of this window of opportunity with record low mortgage rates, low prices and increased affordability. The slow yet increasing stabilization of the economy is also a catalyst to housing health. Read full article

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