Some interesting numbers were just recently released.
In a report showing Real Estate prices from 150 MSA's (Metropolitan Statistical Areas) a total of 73 MSA's showed 4th quarter price increases.
Fourth quarter price increases ranged from a modest 0.1% to an impressive 19%.
As in the past, the Real Estate market is correcting itself. One of the characteristics of the Real Estate market as a whole is that it is slow to adjust.
Interesting enough, data I personally analyzed showed that if you purchased a home in Bullhead City at the average sales price in 2004, by the end of 2007 you would see an appreciation rate of 54.1%.
We were asked by the Bullhead City Regional Economic Development Authority to give a presentation on the State of the Community. As soon as the Powerpoint presentation is done I will make it available on our website for download. The numbers don't lie...things are starting to level off.