"Valley home prices may not begin to rise again until 2012. Prices will continue to drop this year and then level off and remain flat through 2010 and 2011.
That's an early prediction from two national economists at the opening of the Urban Land Institute Arizona's Real Estate Trends Conference today at the Phoenix Convention Center.
This annual January conference has become a must-attend event for people involved in Arizona real estate because of the expert speakers and their honest, even startling projections. Last year, there was stunned silence when analysts predicted home prices would fall 30 to 35 percent off their 2006 peak and any recovery was years away. So far home prices are more than 40 percent off the peak."
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2011-12 recovery predicted for Arizona real estate market
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