Phoenix Top In Growth For Housing Market

Phoenix Top In Growth For Housing Market

Phoenix has the highest gross metropolitan product growth in the nation with Tucson a close second. The GMP is the total value of goods and services a metropolitan area produces. According to the report, The latest Metro Monitor Report from the Brookings Institute, Phoenix had a 1.2 percent and Tucson had a 1.1 percent in economic process for the first quarter of 2013.

As for a housing recovery, the Mountain West metro areas continued to lead the nation with a 1.7 percent increase in housing prices in the first quarter compared with 0.3 percent nationwide. Phoenix ranked first in the nation with 2.7 percent growth.

The report noted Phoenix as the fastest-recovering major housing market in the nation, with a housing price increase of 18.3 percent since the second quarter of 2012. Average list price according to Trulia is $310,000 for traditional sales. And the average sold price including all distressed and non distressed properties according to Trulia was $150,000. 

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Phone: 480-999-2338
Dated: July 12th 2013
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