September 8, 2010
PPI stats indicate 14 per cent increases come November.
It’s our business to remain informed and well-versed about the market, and we think it’s our business to share what we’ve learned as well. So like you, we’ve been watching the real estate market carefully.
So far, we’re pleased with what we’ve come across.
Admittedly, the progression of the Phoenix real estate market has been slow. But there has been progression. We highlighted a return to buoyancy in the Sand States, we saw a drop in foreclosures and we pointed to an increase in single-family housing starts.
And the August release of the Arizona Regional Multiple Listings Service’s Pending Price Index (PPI) points to more positive increases further down the road. Despite slight dips in the fall, the PPI stats indicate that the average sales price in Phoenix will recover in November by an outstanding 14 per cent, bringing the average sales price to $183.7K. This is good news.
For those who have recently purchased at ONE Lexington, or those who are looking to buy, the timing couldn’t be better. It’s unlikely that such stunning high-end suites as are found at ONE Lexington will be available at such low-market costs for much longer.
But ultimately, purchasing a home is as much about feeling as it is about timing. Feel above it all in our exclusive, two-story penthouse, now open for touring. Or experience one of our spectacular one, two and three-bedroom suites. We think the exceptional quality, 11’10’’ ceilings, Caesarstone countertops, emerging urban neighborhood, and more will make you feel right at home.
