Tim Gallen | Digital Producer-Phoenix Business Journal
This year will go down as a generally flat one for the greater Phoenix housing market.
That’s according to the latest report from Arizona State University real-estate guru Michael Orr, who noted that demand remains lower than a year ago.
Sales of single-family homes fell 5 percent from October 2013 to October 2014, with activity among first-time home buyers particularly low.
The report cites the usual culprits of potential buyers carrying tarnished credit histories from the recession and the fact that 20-somethings continue to forgo home purchases.