Housing Doom Housing Bubble Blog

In the midst of today’s real estate section of the Arizona Republic was a two page advertisement from Realty Executives.  At the bottom was a chart.  I thought the chart did a great job showing what is happening with inventory, sales, and days-on-market.  There’s no link, so I scanned it so you could see it.  Under the graph are the conclusions drawn by John Foltz, President of Realty Executives.  His conclusions were, well…you just have to read them. (This may load a little slowly.)
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Today’s headline in the Arizona Republic was Find Out What Your Home Is Worth Now.  I’ve been sick of the Republic’s "How much has your home appreciated?" for months, where the Republic compares 2004-2005 price gains, even though we approaching 2007.  "Finally,"   I thought.  "We’re having a reality check."  After all, Phoenix median home price dropped 2.54% year over year in September, so the Republic is going to have to start reporting prices going down.

I know, I know.  I’ve been doing this long enough, I should know better.  The Republic has a number of articles today dealing with the Valley real estate market.  While it’s true the articles talk about cooling and corrections, in the end they have the most interesting (?) map of the Valley. Somehow when the Valley experienced a year over year decline- this map doesn’t show one zip code declining in the Valley!  It would be impossible using the chart headings they have.  How do you report negative appreciation with these options: (If you don’t have today’s Republic, I’m sorry I’m not finding a link to the map- does anyone else see it?")

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It’s been a couple of weeks, so once more I”ve grabbed Friday’s Az Republc Home Sales Section (current sales listed in the Republic are not available online yet), and fired up Zillow  (which provides square footage of properties) to bring you this week’s home price trend in Gilbert.’s 85296. New homes are not included.
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