PHOENIX -- The real estate market is on the rebound, and things are really moving in certain valley zip codes.
Heather MacLean of Realty Executives says she's expecting a record sales month in May. "It went from one extreme to the next and here we are, back again," she says."It is unbelievably crazy out there."
Much of the craze is due to the dwindling inventory of available homes. "We only have 20,000 homes on the market," MacLean told Scott Pasmore on Monday's Good Morning Arizona. We had 13,000 homes on the market when it really went crazy. And that's compared to 45,000 homes on the market when we couldn't see anything to anyone."
Maclean says there are several hot zip codes right now around the Valley. They are 85003, 85258, 85018, 85050 and 85251.
Other hot areas include Avondale, Surprise and Litchfield Park. In fact, Litchfield Park was the area where most investors bought. "Those numbers plummeted, but then those investors came back," says MacLean. "So those numbers have been skyrocketing.
Paradise Valley and Scottsdale are also areas said to be coming back from the real estate slump.