
Phoenix real estate: Eye of the storm?
The traditional spring resale season is in full swing in the Phoenix market, with 10,265 homes recorded sold in April. That's about 900 fewer than March, but level with April 2010. Foreclosures, including the sales of previously foreclosed homes, were a whopping 62 percent of total transactions in April. The numbers paint a cloudy picture of a market still suffering from the aftershocks of the real estate collapse, but the image shifts depending on which component you examine. Jay Butler, associate professor of real estate at the W. P. Carey School, talked with Knowledge@W. P. Carey about value — a different element than price — and what that large number of foreclosed homeowners mean for the future of the Phoenix market.
The traditional spring resale season is in full swing in the Phoenix market, with 10,265 homes recorded sold in April. That's about 900 fewer than March, but level with April 2010. Foreclosures, including the sales of previously foreclosed homes, were a whopping 62 percent of total transactions in April.
The numbers paint a cloudy picture of a market still suffering from the aftershocks of the real estate collapse, but the image shifts depending on which component you examine. Jay Butler, associate professor of real estate at the W. P. Carey School, talked with Knowledge@W. P. Carey about value — a different element than price — and what that large number of foreclosed homeowners mean for the future of the Phoenix market.
Latest news
- Former NFL player excels in second career as Arizona real estate leader
W. P.
- Phoenix homeowners are delisting properties en masse as market shifts
Is the Phoenix housing market about to become more affordable?
- New research sheds light on the PCAOB's enforcement process
A W. P.