When is the housing market in Arizona going to hit bottom?

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We had a good read. For the benefit of yourself. Be sure to read to the end. I want you to get good knowledge from Mortgage Interest Rates Today . When is the housing market in Arizona going to hit bottom? And if you were foreclosed on, when will you be let "back in the game" at these low purchase prices and historically low rates? Let's take a closer look at it. 3rd quarter figures yesterday Tuesday November 29th, 2011 from the Federal Housing Finance Agency were so so showing the value of the average home in Arizona sliding another 1.5% in the last quarter. That brings the year over year to 12%. A home valued at 200000 last year is now worth 24000 less- 176000. The same trend is playing out since the mortgage meltdown started. Arizona property values are now half of what they were 5 years ago with Phoenix having the major role in that. Tucson is down less, 35% over the last 5 years. Obviously, certain neighborhoods and subdivisions taking bigger hits than others. But there are some bright spots: 1- A few of the state's metro areas actually managed to move into a positive range in the last quarter. 2- And even where the decline continues, the quarter over quarter numbers are not as bad as they had been. 3- The biggest hit metro area (Phoenix) just down 2.2% quarter over quarter bucked what had been a multiyear trend of declines. 4- Yes there is a mountain of shadow inventory that is still needs to come into the market but there is also a wave of buyers being let back into the picture beginning in 2012! I think it is wise to say we need to see another quarter or two of data but it is possible that September of 2011 ...

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