Phoenix Home Market Update - July 2005

If you read the newspapers, you will see many articles on the state and future of the Phoenix home market.

Everything from "it's going to bust" to "we are still going up" can be found in local and national newspaper articles.

Here is a summary from an article in the Sunday Edition of the Arizona Republic newspaper from July 24, 2005

One of the questions asked to a panel of experts was "What do you predict will happen to the [Phoenix] housing market in the next four to six months?"

Here are some of the answers:

"The market will stay very strong over the next four to six months, and then we anticipate a moderation of price increases in new and resale homes, but not a dramatic change in velocity."
RL Brown - publisher of The Phoenix Housing Market Letter

"For four to six months I see no major changes from the current pace. In the next year to 18 months I see home price inflation dropping to half of today's rate [3% - 5% per month].
Eric Brown - President of Engle Homes division.

"My perception is the market will mirror the past two to three years of growth"
Scott Peterson - President of Element Homes

The entire article can be accessed at www.azcentral.com. Search for "Bubble Trouble" in the search box. You may have to go to the archives if you access the article after Aug 1st.

Richard