Average of 83 Says To Sell...

Reports that according to the Arizona Regional MLS, single-family houses in the Valley took an average of 83 says to sell in November, off the pace of the 65- and 61-day selling times in that same month in 2002 and 2003. Although some Valley residents can sell relatively quickly, others wind up waiting many months. Resale sellers are very important to the housing market, analysts say. If they can't sell their old homes, they can't buy new ones, and builders are stuck with too much inventory. Real estate agents point out some of the key reasons for slow sales, including too many homes on the market and sellers holding out for "boom prices". Single family inventory stood at 42,000 in November 2006, compared with 23,500 in November 2005. The article profiles several sellers of homes in the Valley and their experiences during this correction market period.
Some home sellers settle in for long wait

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