Maricopa County Arizona Market Watch - Good News!
ASU Economist Lee McPheters is predicting that "2011 will be the best year that Arizona has seen since the recession."
According to McPheters, data indicates that Arizona is currently the fastest growing job market for private sector jobs and that Phoenix is second only to Washington D.C. for job growth in large cities nationally.
Additionally, Arizona is forecast to have a better economy in 2011 than just about any other state in the West, and Arizona, California and Texas are expected to have the fastest population growth.
We had the opportunity this week to listen to a panel discussion that included Jay Butler, Director of Real Estate Studies at ASU; Ivan Choi, President of REOMAC, Wayne Stutzer, Financial Analyst and Fox News Correspondent; and Michael Thorrel, CEO of Pinnacle Bank. Each of them indicated that they believe we will begin to see signs of recovery in the Phoenix housing market in 2011.
We can't expect a magic bullet, but job creation and population growth probably can't hurt the recovery of the housing market. There are some great opportunities in our market and with preparation and hard work, we can make 2011 our best year yet in real estate!
Current Conditions in the Maricopa Couinty Arizona Phoenix Market:
There are 31,602 single family detached listings currently in MLS. That is a decrease of 55 listings over last week and the fourth week in a row of a decrease.
There are 38,882 total listings currently active in MLS, which includes condos, townhomes, patio homes and lofts.
Remember, serious buyers are still buying during the holidays!.