I ask this as I live in high-flying Phoenix, AZ, and I've noticed that several houses in my immediate neighborhood have been on the market for many months. One house down the street is on the market for $315,000!!! To some of you based on where you are you may find this reasonable or even cheap but by Phoenix standards for a three bedroom, one bath house in the 85006 that's unheard of. They'll get that when pigs fly...…
Another house is a little bigger and nicer and is listed for $290,000 - I can remember back in 2009 when that same house though not redone sold for $48,000 - now it's sat on the market for five months at 290K. It really does seem to be cooling off a bit though hyperconstruction of high end apartment buildings close to downtown continues. What's it like where you are? Rob