Wednesday, May 15, 2013

Phoenix Has Risen from The Ashes...#1 Hottest Housing Market of 2013!

After a long and painful downturn in the housing market, home prices are finally beginning to head north. According to Zillow, a real estate listing website, home values rose 5.1% across the United States between February 2012 and February 2013.

Many local housing markets are performing considerably better than the country as a whole. Home values rose more than 13% in 10 of the 30 largest housing markets for which Zillow has data, and rose more than 20% in five of them. The biggest growth of all took place in Phoenix, where home values rose 24%.

Based on a review of the median home value of the 30 largest housing markets measured by Zillow, 24/7 Wall St. identified the 10 housing markets that have risen the most from the first quarter of 2012 to the first quarter of 2013. Zillow also provided data regarding expected growth from the first quarter of 2013 to the first quarter of 2014, the number of homes sold in February, as well as the change in the number of homes sold from a year earlier. 

Unemployment rates as of February 2013 were taken from the Bureau of Labor Statistics. Data on when home prices peaked and the percentage decline since that time was based on median home value from Fiserv.

Here is the hottest housing markets of 2013:

1. Phoenix, Ariz.

> Change in home value: 24.0%

> Current home value: $165,600
> Bottom in home value: Q3 2011
> Forecast change in home value: 10.6%

No other metropolitan area’s housing market has grown faster than Phoenix, where home values rose 24% over the past year. The growth is expected to continue as well. Between 2013 and 2014, home values are projected to rise an additional 10.6%. The unemployment rate in the Phoenix metro area was just 6.7% in February 2013, down a percentage point from the same month in 2012. Notably, construction jobs were up 8.2% from the previous year, likely an indicator of a more robust housing market.

Diane Neslund, CEO l Owner l Realtor l Designer at Distinctive Showcase Properties Knows The Scottsdale Luxury Real Estate Market.  Her Unique and Innovative Approach Has ReInvented Real Estate.  By Combining The Best of Her Companies Services, Diane Can Offer More Than Most Realtors In Preparing Your Home For Sale, Marketing Your Home To Sell Quicker, Furnishing, Staging, & Design Decor For Top Offers, and Handling Any Cosmetic Upgrades, Along With All Transactions.  Diane Has a Robust Inventory of Fine Homes In All Price Ranges.  Distinctive Showcase Properties Handles Relocations, as Well as Provides Move In Ready Furnished Short & Long Term Rentals In The Scottsdale Area.
Diane Also Offers Select Turnkey Property Investment Opportunities For Partners.

Because of The Powerful Combination of These Services, Our Clients Experience Unparalleled Satisfaction. List, Buy, Sell, Rent, Furnish, and Invest in Your Next Scottsdale, Arizona  Home With DIstinctive Showcase Properties. 

Call Diane at 480-948-6600  Email:
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