Home Values Fall For 3rd Month

According to Arizona State University, foreclosures are up on Phoenix but home values continue to fall for the third month in a row.

The Phoenix Business Journal reported today that foreclosures were 45% of the existing home sale activity for August, which is a minor increase from July. The median home resale price for Austust was $135,000, down $3,000 from last year. Townhome and condo prices continue to plunge.

2 Responses to “Home Values Fall For 3rd Month”

  • Andy Ray

    Thanks for sharing the information. Hope this plunge stops soon. You need to learn the tactics of property management if you want to invest in property in this lean period.

  • Avric Inc.

    Thank you for the sad but truthful information. There will be a recovery sooner or later. In the meantime, people have to invest in cash flow positive assets and unfortunately unload their bad debts. Real Estate always comes back!

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