Home Prices Surge Courtesy of Wall Street

I am sure you have been hearing that home prices have been on the rise in Phoenix AZ. Here is an article that give some in depth information as to why this is and what we can expect in the future. Some choice snippets are below and here's the link to the full article

"It’s no secret that Wall Street has been bullish on real estate. Housing stocks have surged over the past year, many teetering on the edge of overbought, and billionaire investors like Warren Buffett have been exceedingly vocal about the investment opportunities brick and mortar properties have represented. "

"Not surprisingly inventory levels plummeted as demand increased, putting upward pressure on prices that have created a ripple effect. "

"many areas have welcomed notable year-over-year price increases as well — though none quite as much as Phoenix, which welcomed a nearly 23% uptick in prices throughout 2012,"