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Phoenix Metro real estate statistics - do they paint an accurate picture?
Real estate trends are very localized. Allow me to explain my point. We see articles on a National level that are starting to say that the worst is over and the market is improving (Article). Looking at the overall national level, statistics show that this is a true statement. But like the weather on any given day across the United States, it's great in some areas, and not so great in others. Let's use the weather analogy on a more local level. In the Phoenix metro area during the monsoon season, you can have a regular day in some parts of the Valley of the Sun, and thunderstorms in another area! It's very localized! The real estate market is similar in the sense that one part of the metro area can be experiencing true signs of "recovery", and in other areas there are true signs that the going is still pretty rough.I happen to love statistics, but when you see them you have to understand that while the numbers are valuable, they can be too general. And as a result, they can paint an incomplete and inaccurate picture. In my opinion, there is one local statistic that really does that - ... more

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