April 19, 2024 10:33 pm
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August stock market dive slowed Phoenix home sales

Phoenix

PhoenixBy Catherine Reagor | The Arizona Republic

The stock market plunges in August buffeted metro Phoenix’s housing market as wealthy buyers who took hits on their investments opted not to purchase high-end houses.

After a six-month streak of rising sales, the number of Valley houses sold in August dropped 10 percent from July’s pace, according to a report from Arizona State University released Wednesday.

Continued:

Comments by Jim Belfiore, real estate consultant:

“Home sales have fallen off since mid-August, although I’m not sure how this so immediately could be attributed to the stock market. Sales typically do fall in August.”

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Rose Law Group Reporter, which provides Dealmaker’s content and service, is contracted by Rose Law Group. Rose Law Group is a full service real estate and business Law Firm practicing in the areas of land use/entitlements, real estate transactions, real estate due diligence/project management, special districts, tax law, water law, business litigation, corporate formation, intellectual property, asset protection, data breach/privacy law, ADA compliance, estate planning, family law, cyber-law, online reputation and defamation, lobbying, energy and renewable energy, tax credits/financing, employment law, Native American law, equine law, DUIs, and medical marijuana, among others. The views expressed above are not necessarily those of Rose Law Group pc or its associates and are in no way legal advice. This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice, please contact an attorney in your community who can assess the specifics of your situation.