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According to our favorite NAR economist, Lawrence Yun: [Thanks L!]
The lack of buyer confidence to enter the market has been the one principal reason in holding back home sales. Many would-be buyers are spooked of a possible home price decline. And the media is fueling that fear.
Feel like feeding the flames of fear, or throwing a wet blanket? We welcome your links, stories, thoughts, and ideas.
The Arizona Republic reported yesterday what a lot of us have known for a while now- rental vacancies are up in Phoenix:
As the real-estate market continues to slump, homeowners who can’t or don’t want to sell are leasing out their properties.
That has caused some apartment dwellers who want the experience of living in a single-family home to leave their complexes and rent from homeowners, said Tyler Anderson, a vice chairman with commercial brokerage firm CB Richard Ellis in Phoenix.
