By 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.