The Madeleine Brand Show

The Madeleine Brand Show is a daily, two-hour program that looks at news and culture through the lens of Southern California. Hosted by Madeleine Brand

Phoenix's housing market begins a turnaround

by The Madeleine Brand Show

35168 full
A bank owned sign hangs outside a foreclosed home in Maricopa, Arizona. Maricopa, AZ was one of the fastest growing towns in America until vast unemployment and the real estate bust swept through the country. Joshua Lott/Getty Images

Almost all economists agree that until housing prices stabilize, it will be difficult to create any long-lasting economic recovery.

But there are glimmers of a turn-around in housing prices in a few areas — like Phoenix, Arizona, which faced one of the most brutal real estate declines in the country. Home prices in Phoenix declined 55 percent from 2006 through the end of 2011, and Arizona's foreclosure rate jumped to No. 3 in the nation in 2009. But now, home prices are increasing in Phoenix.


Mark Stapp, veteran Phoenix developer and Professor of real-estate development at Arizona State's W. P. Carey School of Business.

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