After a remarkable rebound, the Phoenix housing market is cooling down. The latest figures show Phoenix is off to a less than promising 2014. The number of homes for sale in January stood 29 percent above their levels of a year earlier, according to the Arizona Regional Multiple Listing Service Inc. A new report from Arizona State University’s W. P. Carey School of Business has found a 4 percent drop in home prices in January.
It seems like it was just a few short months ago we could not keep a listing on the market. The house went active on the MLS, received multiple offers, and then it was gone. It felt like it was all in a matter of days, maybe even hours. I had buyers say forget it I cannot keep up with this competition, and they stopped looking. Now, it feels like houses are sitting for weeks with no movement. Uh, oh … time to panic; time to make a drastic price reduction? Before you make big decisions, know this, this cycle is normal. Phew!
When I start talking about real estate in 2012 all I can say sometimes is, “WOW!” Do you realize that in 2012 the “Phoenix median home prices jumped 36 percent from $116,000 to $158,000 in one year, November to November” (housingwire.com)?
The Thunder look to return to their winning ways behind a talented junior class and a group of committed seniors in 2014.Produced by David JolkovskiNarration by Jason P. SkodaInterviews (in order of appearance):Cade van RaaphorstTJ RobertsAlex FarinaDrew McIntyreCoach Dan HindsAdrian PerezAndrew MacnairSaxon McDonald