Bad Data Means Bad Decisions

Just read the headline this evening – Phoenix among worst real estate markets – and had to scratch my head. How can a market with 20%+ appreciation in the last six months be listed as one of the worst markets? By using bad data, that’s how.

The article, posted August 20th, 2012, relies on data from Fiserv Case-Shiller Home Price Insights – dated January 30, 2012! This was the lowest point of the Phoenix market. Since then we’ve seen nothing but strong appreciation for the majority of the residential market.

I consulted with our friends at the Cromford report just to confirm. They are reporting 25% appreciation overall. (See graphic below)

So if you are planning to invest in the Phoenix/Scottsdale/Paradise Valley market, know that things are, for now, still improving.

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About Mike Garland

In this age of software, data bases and cloud technology, residential real estate provides an anchor to physical reality. At least for now, there is no virtual reality where people can share a meal, a swim in the pool or laugh in the living room with a view of Camelback Mountain the way they can in a luxury home. I enjoy helping people find and sell homes in the Phoenix Valley. With my team we specialize in residential real estate in the Biltmore area, Paradise Valley and the West Valley. I also head up the Toma Partners relocation group.
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