Today, the AZ Republic says home prices are coming down!

Of course, if you have been reading my blog, you knew this already!

Here is the article: link

Pending contracts have gone way down, implying prices will continue to drop. BUT missed in the article is one more dangerous sign for the market: an increasing percent of current contracts are investor purchases. MOST of these are flippers, rather than long term buy and hold investors, so a high percentage of these homes are merely sold temporarily, and are coming right back on the market anyways. I expect very serious downward price pressure by Fall.


About robertoaribas

Math professor, Realtor. 12 years of buying, selling, investing and managing rental properties. rock-climbing and salsa dancing.
This entry was posted in Uncategorized. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s