Resale Market Perks Up...

Resale market perks up, from the Arizona Republic, also reports on the housing market numbers released by the Arizona Real Estate Center at ASU. Jay Butler, the director of the Real Estate Center, said the market direction wouldn't be clear until the second quarter. Investors placing their homes on the market was again cited for the big increase in inventory. "We're getting a few more buyers coming out and looking around, but the inventory is going through the roof," said Floyd Scott, designated broker of Century 21 Arizona Foothills. "Investors are rotating out, going to Dallas and Austin. They bought the resale market last year, took the inventory right out of the market and everyone raised prices...We're still trying to find our legs on whether these prices will hold up or there will be a small decline this year. It might soften a little bit because of the price increase last year," he added.



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