Is the Phoenix Real Estate market turning?

I was having lunch with Tony Scardina from Security Title today discussing the Real Estate market and what he thinks it will take to get things going.

Tony was quick to point-out that this market is probably the best real estate market since our grandparents first bought homes near the end of the great depression. There is a large inventory of homes to choose from with great interest rates. His office is starting to see an increase in activity which is a good sign.

I agree with Tony, there are some great deals to be had in this market. There are investors out there buying 5 and 10 homes all at once. They are buying foreclosure properties and either holding them or renting them out. There are Canadian Buyers using their buying power to get their retirement homes.

Maricopa county lead the nation with the largest increase in residents – 102,000 people either moved here or were born here in 2007.

If you are thinking of buying a home keep your eyes and ears open the winds of change are starting to blow. No it will not be a monsoon like 2005 but don’t be surprised if there is a dust devil every now and again.

http://www.azcentral.com/arizonarepublic/local/articles/0319census0320.html