Valley home prices dip 2.7% year over year

Valley home prices dip 2.7% year over year
by Kaushik Sirkar, Chandler AZ REALTOR
Chandler Arizona Real Estate

We know the real estate market nationwide has slowed down significantly post-boom.  This is definitely the case in the Phoenix metropolitan area.  However, rather than large price decreases, we have seen significantly higher inventories as well as increased days on the market for homes that do sell.

See this article from the Arizona Republic.  Year over year, the Valley's home prices have "only" gone down about 2.7%.  Thats not bad for a market that appreciated over 50% in 2005 alone.  And its certainly less than some other locales including Las Vegas and various Florida destinations.

Does this take EVERYTHING into account?  Certainly not.  Its one big of information in the overall housing picture.  But it does suggest that prices ARE NOT in a freefall.

Thanks for Reading :)

Kaushik Sirkar, Chandler AZ REALTOR
Chandler Arizona Real Estate

 
Posted by Kaushik Sirkar on 08/20/2007 04:05 AM   Comments (3)   ,  
This post has been included in Arizona Information

3 Comments on Valley home prices dip 2.7% year over year

I am in a market that is in a similar situation. In 2005, prices appreciated well over 50%, but now have gone down.

08/20/2007 06:47 AM by DDR Realty, Orange County, NY

Kaushik

Thanks for this information. People ask me everyday about home prices. I'll just have to reference this article.

Shailesh

08/20/2007 12:10 PM by Phoenix Home Loan Expert (www.aimeeloans.com)

I want to share this great news with you guys. I found a site that submit your list to top classified sites like google, trulia, vast and more all at once by making only one ads to them.

08/24/2007 02:51 AM by Homes Listings

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Real Estate Agent: Kaushik Sirkar (Call Realty, Inc.)
Kaushik Sirkar
Chandler, AZ
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Call Realty, Inc.

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