Yes the stats say that it is a buyer's market. However, despite the increase in listings and the drop in sales since November, the market doesn't show any indication that prices are softening. Actually, the values in the Phoenix area continue to rise, with over 15% appreciation.
Appreciation is measured as the percentage of increase (or decrease) in price over the past 12 months. The best way to understand appreciation is to use $100,000 as a baseline. If appreciation is currently 15%, then if you bought a $100,000 house 12 months ago, it would be worth $115,000!
As you can see from the graph, appreciation has topped 40% during periods of the past two years.
Don't let the graph fool you - as long as the number is more than 0, houses are gaining in value!
#Avondale , #Goodyear , #Buckeye , #Glendale, #Phoenix , #Surprise , #Peoria , #Tolleson, #Laveen , #Waddell , #Wittman
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