The housing recovery has settled into a "sustainable pace," with moderate supply increases and Phoenix-area home prices up
The article, Arizona economy to outperform, report predicts, from www.azcentral.com, reports that Arizona's economic growth will remain steady this year and next, helping the state outperform the nation by a slight margin, according to a new forecast. Robert Kavcic, senior economist at BMO Capital Markets, expects Arizona's economy to outperform the nation by 0.4 percent when final 2015 results are in, and by the same margin this year and in 2017. "The Arizona economy is posting solid and stable economic growth amid an ongoing housing-market recovery and positive demographic trends," Kavcic wrote in a report last week, as the state also benefits from good performance in tourism. Employment has been rising as consumer confidence improves, while the state's jobless rate slowly declines. Most recent job gains have come in the services sector, and Kavcic indicated that he expects Arizona high-tech manufacturing to pick up. The housing recovery has settled into a "sustainable pace," with moderate supply increases and Phoenix-area home prices up 5.9 percent in November, according to the S&P Case-Shiller index. "The good news is that the foreclosure rate has leveled off below 1 percent and is now among the lowest in America, though a still-elevated vacancy rate has also subdued the pace of price growth in recent months," the report said. Improved statewide economic conditions are driving stronger population gains around 1.5 percent. "That is still well below the 3.3-percent pace at the height of the housing boom but twice the national average," Kavcic reported. "Interstate migration has accelerated from the recession lows, netting out to an inflow of 46,000 people in 2015, with a smaller assist from international inflows."
Here is the link to the entire article: http://www.azcentral.com/story/money/business/economy/2016/02/22/arizona-economy-outperform-report-predicts/80755640/#
Have you been thinking about selling? Check out helpful tips from Audrey http://www.audreytolley.com/selling.html and lets schedule a time to review your homes values.
While online home estimates can indicate a range of value, your home is not a commodity. No two homes are identical. The raw numbers such as price per square foot do not tell the entire story. Upgrades matter. The condition of the home matters. The lot and view count. Current number of homes on the market. The marketing and negotiating make a difference. If you would like another view into your home’s value, I would be happy to prepare a comparative market analysis which would give you additional details that are not available through online channels.
Contact me at your convenience, and let me know if you have any questions about your home’s real value
