Hey all,
Welcome to my little corner of the net. I will endeavor to make this blog a useful reference tool for anyone that is interested in Phoenix, AZ area residential real estate. I am constantly perusing several sources on a daily basis in order to keep my fingers on the pulse of the market. I will use this blog as a platform to share a condensed version of what I encounter. Enjoy and feel free to offer feedback!
October 08, 2010
Since last May, Phoenix area homes are down an average of $9000. I believe this is an even greater number in the areas in which I specialize (San Tan Valley, Apache Junction, Mesa). We seem to get hit the hardest.
Foreclosures accounted for 45 percent of the existing-home market activity in August. Can you believe it? 45%!!! Buyers have seem to have disappeared as well. A sluggish economy and job uncertainty couple together to keep buyers out of a market where great interest rates and low prices should be attracting them.
If nothing else, this is an interesting market. I can't wait to see what will happen next.
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