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Phoenix Real Estate Shows Largest Annual Price Gains

May 20, 2013 by Carmen Brodeur

The Phoenix real estate market has shown the largest increase in home prices out of 20 metropolitan areas in the past year according to the Case-Shiller Index. As of February, prices of homes in Phoenix have risen 23% from February of last year. The phoenix real estaterate from January to February was 1.1%, the second-largest monthly increase recorded in the Case-Shiller report.

The Case-Shiller Index includes a 10-city and 20-city index and is one of the most closely watched reports of its kind.

One reason behind these gains is inventory reduction. As the number of homes for sale in Scottsdale and Phoenix shrinks, demand and prices rise. The amount of Phoenix real estate for sale has dropped considerably in the past year. However, a leveling off seems to be occurring as far as inventory reduction goes. This means that while the prices of homes will continue to climb, they will do so at a much slower rate.

The Phoenix real estate market is very competitive since inventory is so limited. This is a great time for prospective buyers to purchase their homes before Phoenix real estate prices soar any higher. Call me at (602) 791-0536 to schedule a showing of any Scottsdale homes.

See more information on our Current Market Trends page.


Carmen Brodeur JD

Realtor
Trillium Properties, LLC
9825 E Bell Road, Suite 120, Scottsdale AZ 85260
Cell (602) 791-0536
Carmen@TopScottsdaleHomes.com
www.TopScottsdaleHomes.com

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Carmen Brodeur Scottsdale RealtorVoted in the Top 3 Real Estate Agents in Arizona by the readers of Ranking Arizona Magazine, 2015-2022. Her background as an Attorney gives her special expertise with contracts and negotiations. Carmen has a proven track record of success with buyers and sellers in Scottsdale.

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Your Scottsdale Real Estate Connection

Whether you are buying or selling, we are committed to providing you with exceptional service. Put our experience to work for you. Contact Carmen Brodeur today at Carmen@TopScottsdaleHomes.com

Our Office

We are conveniently located in North Scottsdale.

Trillium Properties, LLC
20715 N. Pima Road, Suite 108
Scottsdale AZ 85255
(602) 791-0536
Carmen@TopScottsdaleHomes.com
 
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