Friday, July 15, 2005

More real estate notes from a trip ...

During a layover in the Phoenix airport, the headline of The Arizona Republic of July 14 caught my eye. Of course it had to do with real estate.

The article was about the record setting resale housing market in metro Phoenix. Another milestone average price was reached in June at $249,000, up 43% from $175,000 last year.

Concern was expressed as to whether or not people would be able to afford the housing.

I guess the story is the same ... here as in Phoenix ... and in many other real estate markets nationwide. Front page news. Record prices. Fears that potential buyers are being priced out of the market.

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