DMB Realty Network’s team at Forest Highlands, Northern Arizona’s finest private golf community, recently published their 2012 Year in Review.
Reflecting on the past year’s activity, the Forest Highlands team views 2012 as a transitional year. Accomplishing nearly 40 home and homesites sales in Forest Highlands throughout the year has decreased inventory, a trend that is occurring throughout the state of Arizona.
- The latest national report shows homes prices jumped by the largest increase in 6 ½ years, with Arizona posting the highest surge among states.
- National Association of Realtor statistics show Phoenix increase in prices at 33.9% Q4 2012 annual rate over Q4 2011 annual rate.
- Low inventory and pent up demand are fueling the increase in Valley prices and most economists expect prices to keep rising this year.
The data presented in this report, along with national statistics, will lead you to the conclusion that the real estate market will see an upward trend for 2013.