The Valley housing market is starting to come back. Mike Orr, who directs the Center for Real Estate Theory at ASU's W.P. Carey School of Business, says home prices were up 6.5 percent in January from January of last year.

KJZZ Morning Edition host Dennis Lambert spoke with Orr on Friday. He says the places that were hardest hit in the economic downturn are the ones that are coming back the fastest.

Orr says there are also fewer foreclosures in the pipeline and he says people looking for a bargain on a home worth less than $300,000 are not likely to find one, anymore.