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The first article, 2006 resale home market in Phoenix area slumps, from the Arizona Business Gazette, reports that for 2006, 67,035 sales of existing homes were recorded in the metro Phoenix resale market, compared with 110,835 sales for 2005 and 102,115 for 2004. Although the market slowed appreciably, 2006 was still the fourth best resale market year on record, falling between 2002 (62,625 sales) and 2003 (73,785 sales) numbers. The information was released by the Realty Studies Center at ASU. "The local resale housing market, since 1982, has been fairly stable, representing 7 percent of the single-family inventory, while the 2005 indicator stood at 11 percent," said Jay Butler. "The 2006 housing market stands at 6 percent of inventory, which is comparable to the housing markets of the mid 1990's."

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