Arizona real estate sales were ranked number 46 out of 50 in terms of appreciation in 2007. No specific town or city like Phoenix was in the bottom twenty cities in the United states real estate market for appreciation, but the Arizona economy appears to need som time to get stable again. The Office of Federal Housing Enterprise Oversight (OFHEO) produced an 88 page reports that says Arizona real estate sales were number 46 in the list of states that had "...positive four-quarter appreciation" in 2007...". The report has lots of positive information, but it hasn't been widely publicized. The list of states and their ranking by appreciation over 2007 is on page 25 of the .pdf report. It seems that Arizona is one area of the country that should continue to see the need for patience when it comes to the real estate market.
80% of the United States had POSITIVE appreciation in 2007 according to the chart page 25 and 26 of the report. And, of the 291 cities monitored in the report, 65% of US cities had appreciation. Too bad these statistics aren't being widely reported. This report uses a few different set of statistics to show different aspects of the housing market.
United States real estate still provides one of the best available forms of investment for people looking to grow wealth over the long run. Real Estate professionals should be using blogging, newslettering, pressreleasing, emailing, and any other useful method to get this positive news out!
The report can be found at: http://www.ofheo.gov/media/pdf/4q07hpi.pdf
PS: My sister is a river guide in the Grand Canyon. If you want a real thrill - take a trip down the Colorado river!
Heath Coker, Associate Broker
Robert Paul Properties
www.CapeGroup.com / email@example.com
508-274-5613 Licensed in MA
Its a beautiful day on Cape Cod!
@CapeGroup Skype: heath.coker