John was one of the first to call the Phoenix real estate bottom in 2011
When almost everyone else believed a huge “shadow inventory” was going to kill home prices, John wrote:
“I think the median Phoenix home price could quickly pop up to $144,000+ again. If not in the second half of this year, then certainly in the first half of 2012.”
– John Wake, August 11, 2011.
Nailed it! The metro Phoenix median home price rose from $116,050 in August 2011 to $153,500 in May 2012.
See full post at “Phoenix foreclosures as a percentage of homes sold continues to decline”.