Update to 2011 Forecast for Real Estate In Phoenix

We're still being asked alot what will 2011 bring in Real Estate in Phoenix AZ???? While we don't have a crystal ball, we do have the advantage of spending our days in the world of buying and selling homes. Our experience is an interesting addition to what we discussed in our last blog post.

We will say that we have had the busiest December since 2005. We have had alot of leads come from the Internet on our websites. Our front desk tells us the Real Estate brokerage is hopping with business, just as we are.

We also see new buisnesses opeining up. New housing developments. In one half hour period last week, we heard 3 ads for homebuilders on the radio. Unemployment is down. Spending is up. Homes have gone down to the same price level as they year 2000.

Well, no crystal ball, but we don't hink it takes a rocket scientist to put together the above facts and conclude that with record low prices, near record low interest rate, rising employment, business growth and new housing growth, 2011 looks good for Real estate. Very good.

My take is that we will have a first half of the year much like last year, but around mid year, look for rising prices and interest rates to take hold. Nothing spectaculay, but the price gains, and the interest rate increases, will be noticeable in our opinion.