The Phoenix metropolitan area is now the fifth largest in the United States. This market is much stronger than the national press paints it. Remember, BAD NEWS SELLS!
The Phoenix metro area generally has an inventory of about 25,000 homes. Right now it is hovering around 45,000 units. Is an inventory of 45,000 homes too many? Sure, but considering that 128,600 people moved into the metro area last year; That extra 25,000 will burn off burn off fast. We are getting a lot of bad press about the surplus, but Phoenix is truly still a strong market. You have to take every thing in prospective.