Tag Archives: Phoenix’s Home-Price Puzzle: How to Rise from Ashes?

The Phoenix housing market is defying conventional economic theory. Inventories of homes for sale are low, falling 41% to 21,304 in October, compared to 35,732 at the same time a year ago for Greater Phoenix, according to the Cromford Report, a market research firm in Mesa, Ariz. The number of home sales is rising—to 6,428 in October from 5,443 in same month a year ago, according to the Cromford Report. The city’s unemployment rate is inching down and is below the national average. The laws of supply and demand suggest […]