Thursday, August 30, 2007

Crashing property prices - Phoenix

If you were thinking of selling that newly acquired investment property in Phoenix, then you should brace youself for a serious reduction in your wealth. Since August last year, housing inventory has increased by a bubble-piercing 115 percent. Listed prices, (that is not actual sales prices), have fallen by 8 percent. Further details on the sorry state of the phoenix housing market can be found on housing panic blog.

The data for the chart came from Housetracker.

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