Two articles in today’s Arizona Republic on the state of the local economy as detailed by the Greater Phoenix Chamber of Commerce, both largely good news. Catherine Reagor continues her slow apprehension of the idea that this year is not last year. And R.L. Brown advises us all to adapt to the housing slowdown — even though it might be ending.
For Market Basket resale homes so far this month, prices are up over August. Prices are up for the first 21 days of September, as compared with the first 21 days of August — a better comparison, since most home sales close near the end of the month. Sales volume for those 21 days is up significantly, but so is the average Days on Market. Builder’s spec-home inventory will be substantially reduced by the end of the month, so it is conceivable that we could be six months away from something like a normal market.
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