Prices and sales have dropped substantially since the real estate bust. Some areas like much of Florida, Las Vegas, NV, and Phoenix, AZ were hit hard, with more than 50% decreases in home values. The amount of annual sales has also decreased.
California showed decreases and popped back the quickest. Many areas in the state are back to a seller's market with decreased inventory and buyers wanting to still get a good price at low interest rates.
Low inventory across the nation is causing multiple offers on well-priced properties. Even in the Greater Phoenix area, we're seeing multiple offers in lower price ranges, and the best-priced homes in most any price range can sell quickly. Below is an infographic created by Active Rain (an online…
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