Resale market enjoys highest first-quarter sales level

The single-family market continues to provide a halcyon influence amid the storm of a struggling economy, uncertain job outlook, and an unstable international situation. While recorded sales activity represents decisions made several months earlier, home buyers apparently remain confident that homes...

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Bibliographic Details
Published in:AZB, Arizona Business Arizona Business, 2004-06, Vol.51 (6), p.4
Main Author: Butler, Jay Q
Format: Article
Language:English
Subjects:
Affordable housing
Condominiums
Economic conditions
Economic impact
Family income
Federal Reserve monetary policy
Housing prices
Interest rates
Median
Mortgage rates
Real estate
Real estate sales
Single family
States
Stock exchanges
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Summary:The single-family market continues to provide a halcyon influence amid the storm of a struggling economy, uncertain job outlook, and an unstable international situation. While recorded sales activity represents decisions made several months earlier, home buyers apparently remain confident that homes are excellent investments. The Greater Phoenix housing market opened the new year at a torrid pace, with 31,935 recorded sales for first quarter 2004 compared to last year's 25,725. While this is a record for the initial quarter of a year, it is below the quarterly record of 33,435 sales set in third quarter 2003. While sales activity remains strong, there is mounting concern that the housing market will begin to slow in the later part of 2004.
ISSN:1079-4255