While home resale's fell significantly in September of this year, interest rates have come down, which is great news for the Phoenix Housing Market buyers? If you have fairly good credit, now is an opportune time to purchase a home. We have all heard, "buy low and sell high". That's exactly what you can do right now if your intention is to stay in the home until prices rebound.

And there's more good news: The spread between listed price and selling price is much lower now than it was six months ago. In other words, the gap between the seller's expectations and that of the buyer's are more in sync and therefore we should begin to see more home sales.

Whenever you see a sign that the housing market is correcting itself, you are sure to see a rebound. If someone had a crystal ball, they could tell us when this rebound will take place. Just keep in mind…"big lenders are showing an interest in Metro Phoenix's home prices". Parts of Pinal and Maricopa counties have been placed on "watch lists". These are the same lenders that kept a close watch on the big housing boom of 2004-2005.

Phoenix's projected population growth will continue to be a major factor in the forthcoming housing market in the Valley. The strength of the housing market depends on a strong economy, which in turn generates new jobs and higher wages for the potential home buyer. Continued low interest rates and "somewhat" easy credit are necessities if we are to see a rebound in the housing market.