Gilbert homebuilders spark to life
Home prices are up, foreclosures are way down, and new home sales have spiked in the
MIKE ORR: And it’s probably going to continue to get better. So that kind of feeds on itself. As people continue to get more confident, they tend to say if it’s safe to buy a house, perhaps I should and that just adds to the demand.
O’DOWD: Orr says the housing market is still unbalanced. Bargains are scarce, and most homes are flooded with potential buyers -- making the purchase difficult, despite low interest rates and still relatively low prices by historical standards.
See the full report here. Source: Center for Real Estate Theory and Practice at Arizona State University's WP Carey School of Business