Yesterday Dr. Jay Butler released his monthly home sales report for the Phoenix metro area. Butler states:
The 3,050 recorded sales in September 2007 heralds in the local resale housing market’s traditional period of doldrums, due primarily to the holidays and the desire not to move children during a school year. The doldrums should begin to let-up in early 2008, with improvement in recorded sales becoming more evident in March.
[Butler’s figures are similar to the MLS numbers, but in general are lower. He states that his numbers come from recordings, and not from the MLS]
Here’s the year-over-year comparison graph:
