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