West Valley Home Resales Drop

West Valley resales were lower in August 2006 compared with August 2005, according to the Arizona Real Estate Center at ASU. But local Realtors aren't sounding the alarm yet.

"Everybody got used to last year, when they were tripling what they were making on their house, and now they are only doubling it," said Judy Bowes, a Glendale Realtor. "It's still is not too bad, as far as I'm concerned."

Sales were down about 50% Valleywide in August 2006 compared with August 2005, and while some areas showed price declines, others had price increases in the median resale price of a home.

"I think it's pretty much the same all over the Valley. I don't think there is much of a difference between the East and West Valley," Bowes added. More...