According to yesterday’s East Valley Tribune:
Housing construction plunged to the lowest level in more than six years in October as the nation’s once-booming housing market slowed further.
So where is the Phoenix market headed? The Arizona Multiple Listing Service (AZMLS) has put out its report for Phoenix area home sales in October. Single family Inventory levels have moderated for the first time since March of 2005. Here’s what the current sales vs. listings graph looks like:
