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03/31/07
Experts divided on whether market will improve
Filed under: General, Real Estate
Posted by: Lillian Wong @ 5:17 pm

Median home prices hit the high-water mark in 2006 in many parts of the Valley, but they began to slide midyear, a clear sign the market was retreating. In 59 percent of 112 Valley ZIP codes, combined new and resale median prices were lower at the end of 2006 than they were four months earlier, according to The Arizona Republic’s Valley Home Values report. But the big price gains continued between 2005 and 2006, with only two communities showing a year-over-year decline. How far prices will fall and when the market will hit bottom remain questions of debate.  More…

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