Description: Remember suburban Phoenix, home of empty subdivisions with green swimming pools and roving coyotes? It’s booming again. A house in Glendale got 95 offers and eventually sold for 17 percent above the asking price. “This is not something we would see in a normal market,†says Michael Orr, director of the Center for Real Estate Theory and Practice at Arizona State University’s W.P. Carey School of Business.
Source: Businessweek.com
Date: July 26, 2012
Link: http://www.businessweek.com/articles/2012-07-26/housing-a-long-way-from-normal#r=nav
Questions for Discussions:
- Summarize the activity in real estate markets today.
- What does all of this mean for homeowners, builders, and investors?
- Would you be a buyer of a home building company today?
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