Season or trend? Phoenix real estate market slows
It's not unusual for the real estate market to slide into the doldrums in the fall and winter, but the Phoenix market was all but becalmed in November. According to the monthly Realty Studies Report from the W. P. Carey School of Business, total recorded sales came in at 6,845 last month — the lowest level of activity since January 2009. And foreclosure activity fell to 2,095 recordings, or 30 percent of the total market — the lowest since April 2009. Is this a new trend or primarily a factor of the season? Associate Professor of Real Estate Jay Butler, who compiles the report, says the complexity of the situation makes it difficult to say what this downturn portends.
It's not unusual for the real estate market to slide into the doldrums in the fall and winter, but the Phoenix market was all but becalmed in November. According to the monthly Realty Studies Report from the W. P. Carey School of Business, total recorded sales came in at 6,845 last month — the lowest level of activity since January 2009.
And foreclosure activity fell to 2,095 recordings, or 30 percent of the total market — the lowest since April 2009. Is this a new trend or primarily a factor of the season? Associate Professor of Real Estate Jay Butler, who compiles the report, says the complexity of the situation makes it difficult to say what this downturn portends.
Latest news
- Bigger baskets or smaller margins? What scan-and-go really means for retailers
New research finds that in-store scanning apps drive more spending on big-ticket goods but cut…
- Leading the movement to fix fast fashion
As a college student, Jennifer Hyman founded a clothing rental service that reimagined how…
- U.S. Department of Labor warns shortages could drive up food prices
Labor shortages could lead to a 10% increase in food prices, explains a W. P.