An article in this morning’s Arizona Republic had some good news for home prices in Phoenix. According to the article written by J.Craig Anderson:
After a record-breaking 27 months of decline in the Valley’s median home price, some of the most influential local real-estate analysts predict that home values finally have hit the bottom of the slide.
That doesn’t mean all home prices will start to increase in the near future. Some houses, particularly the more expensive ones, should continue to decrease in value gradually, while less-expensive homes could hold steady or see moderate gains in value…
While this data doesn’t have me popping the champagne corks yet, It does make me hopeful that we could finally be starting the long, slow trudge out of home price hell.
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