There is an old saying that good news travels slow but bad news travels like wildfire. For the last few years all the Mesa AZ real estate news was bad and each new down turn was reported quickly throughout the nation.
It seems that Mesa AZ real estate news is slow moving. The perception still remains that Mesa AZ real estate is headed downward. But many who arrive in the Mesa area to scoop up a property or two find that things have begun to change. Take for instance the recent press release for the Standard and Poors Case-Shiller home price index below. Every city in the index had a month on month decline except the Phoenix AZ market. This is a strong indication that there has been stabilization.
Now let’s look a little closer at the MLS data from October through January in the graph below, covering the Mesa AZ real estate market. Here is where the good news travels slow adage come into play. Inventory is down throughout the entire MLS, the number of buyers in the market place is up and so are prices. Many investors and home buyers seeking deeply discounted prices in the Mesa AZ real estate market are finding a disappointing reality – it has become a seller’s market.
For those who have followed the Mesa AZ real estate price declines over the last four years know that Arizona is still on sale. Prices in Mesa are many times at 1995 to 2000 levels. The return on investment for buy and hold investors is in the double digits and for homeowners who can get historically low interest rates, this is an excellent time to buy Mesa AZ real estate.
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