It sure does appear glim and dim around here if you listen to all the media…..and your neighbors! Well, the fact of the matter is that our market is truly in a state of correction right now, and that’s no lie. Sellers are pricing their houses based on last year’s market. When they dont’ sell, Owners either become desperate and drop prices or they just don’t really need to sell so they’re sitting on them and waiting. These two factors are creating a bit of a real estate “illusion” and tainted facts.

But, let’s look at this fact by Owen Thomas, Business 2.0 Magazine online editor, and Rob Kelley, CNNMoney.com staff writer on May 3rd about the 10 hot cities for job growth: The Sun Belt will lead job growth from now through 2015 as megacities like Dallas, Los Angeles, and Phoenix expand.

“From Las Vegas to Orlando, sunny suburbs are the best bets to find fast-growing job markets between now and 2015. As new subdivisions spring to life, the infrastructure that’s required to support new residents – like mortgage lending and healthcare — is sure to provide steady employment. Best of all, this kind of work has to be delivered locally. These are jobs that won’t go offshore.”

The piece finishes with, “Phoenix meanwhile is growing in areas as disparate as aerospace, financial services and online education. That city is in the midst of such a boom that experts project it will be the scene of the greatest regional expansion in our lifetime.” Read More of this article…

So, with such an excellent forecast of our job market, the real estate market will continue to remain strong here in the Valley of the Sun. We must be patient. The increase in values may not be as unrealistic as they were in 2005, but if they remained that way, then the buyer’s may stop coming here because it’s just too expensive!

Email me for a free report of the 2006 real estate forecast. kgrant@scottsdalehomesforlife.com