Glen Creno of the Arizona Republic catches sight of The Mole:
That’s especially true these days in metropolitan Phoenix’s post-boom housing market, where nearly everything has reversed since last year’s frenzy. The number of homes for sale on the Arizona Regional Multiple Listing Service increased nearly four times from June 2005 to last month, when it hit a level nearly double what experts consider healthy. Last year, homes sold in about three weeks. Now, it’s about triple that.
Some of the post-boom market figures are closer to historic Valley norms, but many homeowners had their assumptions of what a house is worth and how quickly it should sell recalibrated by the buying craze.
If you can get your mind past the sad fact that the Republic has never heard of a year before last year, it’s actually a fun article about the added value Realtors can bring to their clients.