Phoenix Leads Turnaround Towns Again in Q2
The Phoenix-Mesa area has led Realtor.com's list of improving housing markets since the year began. In the second quarter the area saw inventory levels drop by more that 44 percent, leading to price increases and making room for new construction.
Phoenix led the Top Turnaround Towns list from Realtor.com for the second consecutive quarter, out of 146 housing markets ranked by median list prices and for-sale inventories.
Median list prices in Phoenix were up 29.7 percent in the second quarter compared to the same quarter in 2011 – the largest increase in median list prices of all metropolitan statistical areas (MSAs) monitored by Realtor.com.
When looking at aggregate data across all 146 MSAs, prices rose in almost 70 percent of the markets in the second quarter, while just 13 percent of the markets saw a price decline during the same period. Six of the top ten markets were in California, and nine out of the top 25 markets were in Florida.
For the full report, visit: