New Phoenix Real Estate Market Analysis Released – Shows Strong Fundamentals
August 25, 2007 (PRLEAP.COM) Business NewsPhoenix, Arizona August 25, 2007 - After compiling historical information from a number of data sources, Mr. Lombard reports that Phoenix real estate continues to enjoy growth in three key areas tied to the real estate market – population, employment and personal income growth.
In a time when good news about the Phoenix real estate market is rare, homeowners and long-term real estate investors can rest a bit easier knowing that Arizona’s growth is still going strong after five decades. Between 1950 and the year 2000 Arizona has ranked 5th or higher in the nation in all of the aforementioned key indicators, which promises the future of Phoenix real estate is still bright.
“The reason these indicators are so important is because economic and personal income growth fuels population growth in the area,” explains Justin A. Lombard, President of ‘Trust In Justin and the Casa Crew’. “It makes our state more attractive to non-residents, and high population growth is always critical for a healthy, sustainable real estate market.”
Another important statistic that was uncovered by the Casa Crew is that the median sale price for homes on the market is holding strong, although overall inventory is high. Median sale prices are only down an average of roughly $7,000 from what homes were selling for in May of 2006. In fact, current prices have risen since the market peaked in 2005. These factors indicate that the values of the properties, including Phoenix condos, will weather the recent real estate downturn.
While most experts agree that the long-term outlook for Phoenix Real Estate in the greater Phoenix area is favorable, today’s home sellers still face challenges. For these sellers, Trust in Justin and the Casa Crew have developed the Five Building Blocks for successful home sales in any market.
“We understand that many sellers are frustrated with the current state of the market, but there are many things they can do to increase their chances for prompt sale,” says Lombard.
These five steps include: right-on pricing, stand-out staging, aggressive marketing, diligent follow-up, and smart negotiating.
To see the stats and read this expert analysis of the Phoenix Arizona real estate market, follow this link: Phoenix real estate market analysis. Data is presented in an easy to read table format and the analysis is a straightforward look through the lens of forces driving the market and current real estate sales data in the Phoenix area.
About Justin Lombard and Trust-in-Justin.com:
Trust-in-Justin.com is the online extension of Justin and the Casa Crew, a Phoenix, AZ real estate team specializing in new and resale Phoenix homes and condos. Justin A. Lombard, MBA, e-PRO, is the President of the company and heads up a team of expert Phoenix real estate consultants.
Justin A. Lombard, MBA, e-PRO, REALTOR®
Trust in Justin and The Casa Crew