Phoenix Market Recovering, Pending Home Sales Rising
May 23, 2012
The Phoenix real estate market has shown multiple signs of recovery throughout the past year, which is what prompted Capstone Real Estate to announce the closing date of their Saguaro Series 2 investment fund. Investing in Arizona had been a highly sought after opportunity due to the incredibly low prices of homes in the Greater Phoenix area, but the steady market improvement and rising house prices have left limited time for people to be included in these great Arizona real estate investment opportunities.
Executives at Capstone made the decision to close the current RRSP eligible investment fund to new investors as they want to ensure that all investors have access to equal gains, and felt that closing Saguaro Series 2 before July 2012 was the best decision for all of their investors.
An article in RIS Media states that the Pending Home Sales Index is now at the highest level since April 2012, when it reached 111.3. “The housing market has clearly turned the corner. Rising sales are bringing down inventory and creating much more balanced conditions around the county, which means home prices will be rising in more areas as the year progresses,” says Lawrence Yun, National Association of REALTORS® chief economist.
To read the full article in RIS Media, click here.
About Capstone Real Estate
For the past 40 years, Capstone Real Estate has boasted the expertise and diligence required to properly select and comprehensively manage various real estate investment projects. Capstone is able to generate maximum returns from their investments by purchasing under-valued real estate and making it more accessible to potential investors. Our knowledge in real estate acquisition and finance, combined with founders who together have over 40 years of real estate experience have shaped a track record that speaks for itself. Reliability, leadership, and knowledge are a guarantee when you choose to invest with Capstone Real Estate.