I sure hope its not over!
From a Realtors perspective things seem to be cautiously optimistic around here. Pricing is up a few % over last year and predicted to grow around 7% this year. Its a very nicely balanced market right now and we have about a 4mos supply of houses in Phoenix. For buyers this means the really great houses that are priced right are going quick, many with multiple offers and in a week or less. Anything that isn't priced according to condition will sit for a while.
Price wise we still aren't back to '05 levels around here. If anyone bought between '05 and '08 we are doing really good to get them out with enough $$$ in their pocket to have down on the next place, and even then they won't be making a profit on the house.
Is the recovery over? I don't think so, at least not in Phx. I think we will stay on this gradual upwards movement for a few years, barring a major market crash. I just got into the biz, so I really hope it stays good!
