News Article From: 05-12-2008
Home resales rise in W. Valley as prices are slashed, an article from The Arizona Republic, reports that according to a report from Arizona State University, home sellers in the West Valley have slashed their asking prices up to 30 percent since February, and the price cuts are spurring sales in Surprise, El Mirage and Goodyear. Jay Butler, director of realty studies at ASU's Morrison School of Management and Agribusiness, said although home resale activity has dropped in Glendale, Peoria and Avondale, it is only because fewer homes are for sale in those communities, since they have more established economies and infrastructures and less housing turnover. Butler added that in the West Valley, resale figures show that home values in the newest West Valley communities are still correcting while values in the more established municipalities closer to metro Phoenix have become more stable. http://www.azcentral.com/arizonarepublic/business/articles/0512biz-gl-nwvhousing0512.html |