The high volatility that electrified the Phoenix real estate market over the past few years has been replaced by something more like normality. Change is more gradual. The real news is tied to long term trends, which have been shifting, according to Mike Orr, who is director of the center housed at the W. P. Carey School of Business.
The February report on the Phoenix real estate market contains welcome news. Recovery is here. That’s according to Mike Orr, director of the Center for Real Estate Theory and Practice and author of the monthly housing report.
The January numbers are out for the Phoenix real estate market and they’re not spectacular. But even when the market is normal, January is slow, says real estate expert Mike Orr. Activity during February and March is signaling growing strength in the market at last.
Surging interest in attached homes has the potential to change the character of the city, adding urban density to the sprawling metro area.
Reporting on President Barack Obama’s January 8 visit to Phoenix, USA Today quoted Mike Orr, director of the Center for Real Estate Theory and Practice, on the president’s announcement that FHA mortgage insurance rates will drop.
The Phoenix metro area has a history of rapid price increases and breath-taking drops, so to longtime observers the currently calm market may seem — well — dull. But experts at the “Phoenix Housing Market Explained III,” hosted by the W. P. Carey School of Business and The Arizona Republic on January 17, said the time for optimism is here.
