August 22, 2013
Article by Ilyce Glink about prices nationwide, with some specific information related to Phoenix metro area (see quote below).
To get an idea of what might happen in the fall, we can look to
Phoenix as a microcosm of the national market. Phoenix has unique
housing market seasons: While most markets see a natural uptick in sales
and prices in the spring and summer and a corresponding slowdown in the
fall and winter, Phoenix doesn't.
Its "fall" season happens during the summer -- when it's just too hot outside to buy houses -- and the market naturally slows down, said Michael Orr, director of the Center for Real Estate Theory and Practice at the W.P. Carey School of Business at Arizona State University.
During the summer, prices have been stable.
"Prices remained almost completely flat, while last year they lost a few percentage points," Orr said.
For Orr, the discussion of the housing market "going soft" is all theoretical. It's a discussion of what might happen, and not what is happening.
Its "fall" season happens during the summer -- when it's just too hot outside to buy houses -- and the market naturally slows down, said Michael Orr, director of the Center for Real Estate Theory and Practice at the W.P. Carey School of Business at Arizona State University.
During the summer, prices have been stable.
"Prices remained almost completely flat, while last year they lost a few percentage points," Orr said.
For Orr, the discussion of the housing market "going soft" is all theoretical. It's a discussion of what might happen, and not what is happening.
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