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Pinal home sales double, median prices erode

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JJohnson
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Joined:	Wed Aug 15th, 2007
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Posted: Fri May 9th, 2008 03:17 pm

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What does incoproration have to do with the article? Absolutely nothing was mentioned about the town itself. The mortgage and real estate crisis does not care about how an area is governed. When the crisis passes it will be well planned areas that will recover quicker. We will be the last to see recovery in the resale market.

Last edited on Fri May 9th, 2008 03:18 pm by JJohnson

gk
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Posted: Thu May 8th, 2008 11:37 pm

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Maricopa.......a shing example of Incorporation

Poster Child for Housing Crisis: 'They Were Building Mortgages' in Arizona Town

Maricopa Grew Rapidly as a Result of Housing Boom, Now Suffering From Bust
http://abcnews.go.com/Business/RealtyCheck/story?id=4798588&page=1

OZ
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Posted: Tue Apr 29th, 2008 06:11 pm

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April 29, 2008 - 10:20AM
Pinal home sales double, median prices erode
Misty Williams, Tribune

Sales of existing Pinal County homes posted significant growth in the past six months as falling prices opened up new opportunities for homeowners and investors.

A total of 1,680 existing home sales were reported in the first three months of 2008, according to an Arizona State University study. That’s double the number of homes sold during the same time last year.

The key has been a rapid drop in prices of listed homes and foreclosures, increasing affordability, Realty Studies department director Jay Butler said in a statement.

“Homeowners and investors are buying with the expectation of strong appreciation in the future,” Butler said.

The county’s median home price has steadily eroded since the end of 2005 when it hit $220,000. The median price was $156,160 in the first quarter of this year, compared with $204,600 a year ago, the report shows.

Still, the study notes, Pinal County’s housing market has many hurdles to overcome — including high gas prices, congested highways and limited job opportunities — before any potential recovery.

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