Promising signs from Valley housing data

For the first time in years, there's good news coming out of metropolitan Phoenix's housing market.

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In March, home sales soared to levels not seen since 2005, foreclosures fell for the first time in a year and prices showed signs of leveling off in some areas. The Valley's most affordable communities, including many edge neighborhoods, are leading the housing rebound. "The affordable end of the Valley's housing market could finally be at the bottom looking up," said Mike Orr, a real-estate agent and analyst who publishes the Cromford Report. "Homes priced for $150,000 or lower are selling fast and even getting multiple offers. My money is on home prices in many of those neighborhoods being slightly higher by June." More...

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