Well, we continue to get less than favorable news from the real estate market. New and resale sales are down nationally and things are pretty slow in the Phoenix market as well (see the news posts on the right hand side).
Developers are still offering big discounts. That may be changing in the not too distant future (see the earlier post "Light at the End of the Real Estate Tunnel?").
Yet, local Realtors are seeing more people show up at open houses. Phoenix is its own market and always has been. We still have a positive 100,000 people moving to Arizona every year. That is a big plus that not all states share. Population projections out to 2050 show the overall population increasing by a factor of 4 times.
Local Real Estate analyist R.L. Brown has a little optimism in his September report - the first in over four months. I'll keep you posted.
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Thanks for joining in the discussion.
Richard