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“It’s pretty quiet,” said Arizona State University Director of Real Estate Michael Orr on his weekly appearance on That Real Estate Show. “‘Subdued’ is the word I’d probably use for the current market.”
“Subdued” is not what many current home sellers want to hear, especially after witnessing a sudden shift in market conditions during the summer.
“Phoenix [real estate] is very volatile, and this just proves it again,” said Orr. “I’d say as late as (this past) June we were still in a very strong sellers’ market.”
