Yesterday I wrote about the Phoenix Real Estate Market having its lowest January sales since 2003. Understand that I don't wish for any market in the country to be experiencing the same type of pain we are in Phoenix but I do think it helps to have some perspective. According to DataQuick, Southern California experienced the lowest sales in January since 1998.
Does this mean the Phoenix Real Estate Market has lower to go? I wish I had a crystal ball. According to Federal Reserve Chairman, Ben Bernake, "Overall, the U.S. economy seems likely to expand at a moderate pace this year and next, with growth strengthening somewhat as the drag from housing diminishes."
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