August 9, 2013
Market: Phoenix, AZ
Fletcher Wilcox’s June housing report shows Phoenix has weathered the worst of the recession and can look forward to continued job growth and rising single-family home values in the coming months. The Valley’s median home price is currently $206,000, a 72% jump from its August 2011 low. Additionally, employment has grown 6% from June 2011 to 1.77 million, and foreclosure starts have fallen 84% over the last four years. Although Phoenix still has room to improve before reaching its pre-recession peaks in home prices, employment, and foreclosure starts, the overall trend is positive.
Read the full article at Phoenix Business Journal.