AZ HOUSING MARKET RISING, S-L-O-W-L-Y

posted by Michael Chihak

Arizona Week will look into the state's housing market on Friday, including a review of the latest foreclosures report, residential real estate prices and other aspects of the beleaguered market.

The state has been among the worst nationally in foreclosures and the crash of the housing market, with the Phoenix metro area leading the way.

The Phoenix economy was underpinned for decades by growth and home construction. But the burst of the housing bubble in 2008 ended that and sent the market into a tailspin.

The January foreclosure report from RealtyTrac, an Irvine, Calif., company that tracks real estate, foreclosures and other aspects of the residential market, showed nearly one in every 325 houses in Arizona was foreclosed upon. That was nearly 9,000 total foreclosures, including 5,987 in Maricopa County alone.

For Friday's program, we will talk with real estate specialists and others to gain a picture of the situation now and a look to the rest of the year.