Despite the fact buyers had substantially more homes to choose from than they did a year ago, the Phoenix housing sector had the weakest February in four years. And, reports the Phoenix Business Journal, it’s possible prices may stay flat all year.
The number of homes sold in February (5,398) fell by more than one quarter versus a year ago, while total cash spent in those transactions ($1.4 billion) was down 16 percent, according to Arizona State University’s newest housing report.
As of March 1, supply was up by 4 percent from Feb. 1 and by a whopping 58 percent year-over-year, the report said.
