Looking at the responses from the Greater Phoenix Blue Chip Forecast panelists this quarter, consultant and Greater Phoenix co-editor Elliott D. Pollack asks: "Is the glass half full or half empty?" If the glass is half empty, he says, there will be no quick recovery.

2009 was a record year for real estate transactions in the Phoenix metro market. In fact there were 2,000 more transactions last year than in the previous record-setting year, which was 2005.

The Phoenix real estate market began to turn around in 2009, but the improvement was driven by foreclosures and by investors drawn to the resulting low prices, according to the latest ASU Repeat Sales Index (ASU-RSI) report.

Real estate experts are watching for signs that the Phoenix market is returning to normal. Activity slowed a bit in November — a hopeful sign because it is consistent with seasonal norms. But the market is still feverish.

The ASU Repeat Sales Index (ASU-RSI) continued to decline in June, but the numbers contained positive signals that improvement is the trend in the Phoenix metro real estate market.

In this edition of The Economic Minute, economist Dennis Hoffman says that Arizona could be called "ground zero of the worst recession since World War II." The hard economic fact is that Arizona depends on in migration to keeps its economy vibrant, and the state is not exactly a people magnet rig

It's Indian Summer in the Phoenix real estate market: Like a replay of the traditional high sales months, resale activity increased in October -- from 9,070 sales in September to 9,955.

Single-family home prices in the Phoenix metro market have finally stopped diving, but the townhouse/condominium segment of the market continues to sink, according to the latest ASU Repeat Sales Index (ASU-RSI).

Forecasts by the Greater Phoenix Blue Chip real estate consensus panel show that perceptions of the metro real estate market continued to deteriorate in the third quarter of 2009.

The troubled Phoenix real estate market has experienced high levels of activity this summer. With the federal tax credit ending soon, first-time home buyers have been scrambling to get into a deal. Meantime, investors anticipating a rise in prices are coming back to the market.