Barclay Capitol has reported today that Phoenix and Atlanta are to be the best markets for newly built homes in the U.S. The report did not give a time frame but did forecast it would happen once the cities have cleared out “distressed inventory and excess supply.” Barclay analysts have made the prediction based on the growing population and “speedy absorption of distressed real estate.” The Phoenix area population is predicted to raise 2.6% annually for the next five years. The Barclays analysts also stated,“While improved operating performance may take several quarters to materialize, the recent selloff provides a potential entry point for some of the long risk recommendations that follow from our analysis.”
For the complete article from Bloomberg, follow this link: http://www.bloomberg.com/news/2011-08-12/phoenix-and-atlanta-will-be-best-new-home-markets-in-u-s-barclays-says.html
It isn't surprising that the Phoenix area attracts new residence. The climate 9 months out of the year is close to supreme, especially for golfers, like myself.
ReplyDeleteThe housing market in Phoenix has been faily busy in most of the areas you look at. I can understand how it will continue to grow.
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