Here is a video done by Channel 3 with some information on the Phoenix housing market and the new "Boomerang Buyer". The real estate market has shown some great improvement over the last 6 months and with home buyers now passing the two year window for repurchase, you are starting to see more Phoenix area home buyers entering the marketplace. With increased demand for housing and a limited inventory, you are starting to see prices increase across the valley. However you still have a number of new listings hitting the market that are priced too high, but as a home buyer the appraisal is still your protection from over paying in a hot market. The downside is that some home sellers don't want to deal with appraisal issues and may look to work with buyers with larger sums of down payment money. The market is definitely showing signs of continued improvement, and with rates projected to stay low and new construction being brisk, it's definitely creating some excitement for both home buyer and sellers.
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