When it comes to diverse real estate.  The city has received much national attention recently for its dramatic price appreciation over the last year (an appreciation that's been compared to that of 2004-2005).  However, going from $78/SF to $94/SF in 2012 (+$22,500 for a 1,500SF home) isn't nearly as dramatic as going from $125/SF to $165/SF in 2005 (+$60,000 for  a 1,500SF home).

For this reason, in addition to the tighter lending and appraisal guidelines of today, there is a lot of room for future appreciation in the Phoenix residential real estate market.

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