A slow and sluggish return for the housing market appears to be the forecast. Arizona has some fundamental fiscal issues that will have to be worked through before a 'bull' market can return. In the mean time empty commercial real estate and continued foreclosed residential properties will dot the landscape of our fair metro area.
Real Estate: Your local forecast
381 markets tracked
By Sept. 30, 2011, the national median home price is expected by fall by about 6%. Check the predictions for your city.
Phoenix-Mesa-Scottsdale, AZ
Forecast change: Sept. 30, 2009 – Sept. 30, 2010 -22.2%
Forecast change: Sept. 30, 2010 – Sept. 30, 2011 -2.7%
Market fundamentals
Median Family Income $64,200
(2008)
Median Home Price $140,000
(Third quarter 2009)
Change in Home Prices -21.2%
(From third quarter 2008 thru third quarter 2009)
Worst 1-Year Home Price Change -35.7%
(First quarter 2009)
(time period 1980-2009)
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