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.

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About robertoaribas

Math professor, Realtor. 12 years of buying, selling, investing and managing rental properties. rock-climbing and salsa dancing. robertoaribas@gmail.com
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