By Mike Sunnucks | Phoenix Business Journal
The housing market will have to wait until at least next year to get going again, according to Arizona State University housing expert Michael Orr.
ASU’s latest housing numbers are out this morning and they show continued sluggish demand for homes and sales activity.
“Demand has been much weaker since July 2013 and still shows little sign of recovery,” said Orr, director of the Center for Real Estate Theory and Practice at ASU’s W.P. Carey School of Business. “Supply is also fairly limited. We anticipate pricing will continue to move sideways over the next few months, and a significant increase in demand will be required to change things.”
