Positive signs in the housing market - CBS 5 - KPHO

Positive signs in the housing market

Posted: Updated:
TEMPE, AZ (CBS5) -

There's good news in the housing market, according to a Valley expert with the Arizona Regional Multiple Listing Service, Inc.

Chris Heagerty said ARMLS takes the data about homes from across the Valley to figure out what is going on in the market. She said the report for last month indicates that there is a decrease in the number of distressed properties across the Valley.  

Heagerty said the outlying areas like Maricopa and Queen Creek are still the ones with the most distressed properties.

Mesa ranks as one of the highest cities with distressed properties closer to Phoenix with 837 total, but Heagerty said that's because it has more zip codes than other cities nearby.

Scottsdale has 617 distressed properties, Central Phoenix has 592, Gilbert has 560 and Chandler has 555, according to the report.

In contrast, also in the report, the Valley areas with the least number of distressed properties is Glendale with 517, Surprise at 404, Peoria with 401 and San Tan Valley with 281.

The lowest ranking cities are: Goodyear, 226; Buckeye, 204; Avondale, 200; and Tempe, 185.

Overall, Heagerty said, the trend right now is a good situation.

"As the distressed properties become a less influential part of the overall property make-up, then prices will go back up again and we've been seeing that happen since August and September of last year," she said.

She said this trend is expected to continue.

Copyright 2012 CBS 5 (Meredith Corporation). All rights reserved.

Powered by WorldNow
CBS 5
Powered by WorldNow CNN
All content © 2014, CBS 5 (KPHO Broadcasting Corporation), Phoenix, AZ and WorldNow. All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service..