Bubble Trouble?

The Arizona Republic reports on a panel of top economists and housing analyst's take on the metro Phoenix real estate market, including RL Brown, Dr. Jay Butler, Marshall Vest from the U of A, and John Foltz of Realty Executives.

Asked about their take on the housing market short term and over the next 18-months, the consensus was that the market is very strong near term but that price increases will level off over the next year to 18-months.

They cite the strengths of the real estate market as our good economy, low interest rates and affordability. They also cite that the leading indicator of a change in this market will be rising interest rates and a slowdown in price increases as a result of slower consumer demand. All are concerned about affordability, and cite the fact that Pinal County and Western Maricopa County are booming because that is where the affordable housing is located. More...

None see a bubble bursting scenario at this time for our market.