Why Phoenix is in a housing slump (again)

housing slumpBy Tim Gallen | Phoenix Business Journal

Real estate guru Michael Orr finally has confirmed what I’ve been experiencing all spring and summer: the Phoenix housing market is in a slump. That’s what Orr lays out in his latest monthly report that shows the housing markets in Maricopa and Pinal counties have slowed dramatically in the past year.

Sales of single-family homes were down 11 percent year-over-year in June, according to the report.

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