I just got done listening to long-time Phoenix housing guru R.L. Brown give his predictions for the Greater Phoenix housing market.
On one level he predicted a rise in the new-build market beginning in 2011 and showing good strength by 2013. On another level he said this would only happen if Government got off its partisan rear-end and started leading the country into realistic and sustainable job growth.
Brown's Predictions included:
- Price will be the driver for home sales, not location.
- Consumers are looking for larger lots and space.
- The condo market will suffer with the exception of the central corridor, parts of Scottsdale and Tempe.
- Consumers will be buying more conservative homes that are affordable over the long term verses large expensive homes.
- Homes in the $250,000--$400,000 range should see the greatest demand in the next 3 years.
Brown says the people (you & I) must demand our elected officials start doing their intended job... effectively managing the concerns of the nation, states and cities. He says it is essential we let politicians know we are serious about change and tired of lobbyists, in-fighting and partisanship rule decision making.
Perhaps yesterday's Mass election results are the start of a wake-up call our elected officials are about to get on many levels.
My personal take on his talk was that the real estate market will show significant strength when consumer confidence and job creation see upward change.
Best to you,
Gene Urban
The Urban Team at Realty Executives
602-234-5777
