not see the declines in prices declining...!
But, not in AZ
This was to be expected...
however, one should NOT assume that a slowdown is RE listing price cuts
means that we have reached The Bottom.
What it does mean is that sellers are being much more realistic about their asking prices.
Why sellers in Az are less realistic than sellers in Las Vegas is not clear, but they are.
The first article used the Trulia RE numbers to explain the AZ situation.
The second article, while going it to that further, does not answer the question either.
The third and fourth articles are from CNBC and provide U.S. with the worst asking price reduction cities,
and Diana Olick's TV spot on the same problem
The fifth article is the CNBC written report on the interview.
And sixth article is a CNBC report on the buy/rent question.
Showing U.S. that Seattle is still a terrible renters market.
while Phoenix is getting better.
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Phoenix-area home sellers overshoot mark for home-sale prices
http://www.azcentral.com/arizonarepublic/business/articles/2010/04/25/20100425biz-insider0425anderson.html
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Arizona home values may depend on mindset of buyers
------ Slideshow:
Cities With Reduced Asking Prices
4. Mesa, Arizona
Listings with price reductions: 31%
Average price reduction: 13%
Total amount of reductions: $29,840,280
Average price reduction: 13%
Total amount of reductions: $29,840,280
2. Phoenix, Arizona
Listings with price reductions: 32%
Average price reduction:13%
Total amount of reductions: $109,247,720
Average price reduction:13%
Total amount of reductions: $109,247,720
------------ Video from CNBC
Home Prices Cut
Wed. Apr. 21 2010 | ndard e) ET
Home sale prices are stabilizing, with CNBC's Diana Olick and Heather Fernandez, Trulia.com
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New Signs that Home Prices May Be Stabilizing
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In Sour Home Market, Buying Often Now Beats Renting
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