AZ: Is Scottsdale Home Market Bottoming Out?

Scottsdale Real EstateIt’s still a buyer’s market, but a shrinking inventory of homes and fewer foreclosures are giving analysts and real-estate agents hope that housing prices are flattening out.

The overall median price in Scottsdale of $375,000 fell 6 percent last year from 2009. But that follows two years of double-digit percentage price declines in most Scottsdale neighborhoods, according to data from the Information Market.

Prices were off just under 2 percent in the Pinnacle Peak area of Scottsdale and Rio Verde’s median price edged up 1 percent, providing a glimmer of sunshine for the Northeast Valley.

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Full Story from the AZ Republic

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