By Terrance Thornton | Independent Newsmedia Inc. USA
After a year of brisk sales, the Phoenix housing market appears to have leveled off and quieted down, says one housing expert.
That lull in the marketplace, he says, may only be temporary as the expiration of the seven-year penalty imposed on those who suffered a foreclosure during the Great Recession may within a year bring an influx of new buyers into the marketplace.
“I think we sometimes forget now that the foreclosures behind us they were 26 percent of the total marketplace,” said Mike Orr, director of the Center for Real Estate Theory and Practice at the W. P. Carey School of Business.
