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ASU report sees home price gains stalling in 2014

home pricesBy Catherine Reagor | The Republic | azcentral.com

Big home price increases aren’t expected to continue in most parts of metro Phoenix this year, and some neighborhoods might see a dip in values.

The latest report from Arizona State University’s W.P. Carey School of Business is forecasting home-price gains will stall in 2014. Prices have been climbing steadily since September 2011.

“We are seeing a big drop in demand compared with the last two years, and there are ominous indications of a softening market when we dig deep into the numbers,” said Mike Orr, director of the Center for Real Estate Theory and Practice at the Carey School.

Continued:

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