Summer's slowdown prelude to fall upswing?

The end of summer brought few surprises in the Phoenix real estate market. Prices were down, as expected, but compared to spring it was a much less frenetic market. Mike Orr, director of the Center for Real Estate Theory and Practice at the W. P. Carey School of Business, reports that supply continues to be tight, except in fringe areas, where listings are growing. Investors are active as well. Orr expects to see more action in the next couple months – again, an expression of seasonality.

The end of summer brought few surprises in the Phoenix real estate market. Prices were down, as expected for the season. Compared to spring, however, it was a much less frenetic market, said Mike Orr, director of the Center for Real Estate Theory and Practice at the W. P. Carey School of Business. Supply continues to be tight, although in areas on the fringe of the metro area, such as San Tan and Maricopa, listings are growing. Investors are active as well, with transactions between investors on the rise. Orr expects to see more action in the next couple months – again, an expression of seasonality. [podcast]