Arizona: Median resale housing prices still dropping

Don't worry, the realtors said... housing prices historically ONLY go up.

Don't worry, the realtors said... you don't have to have positive cash flow for it to be a good investment

Don't worry, the realtors said... we can get you a no-doc, no-down teaser rate ARM and your payment will be right in your comfort zone

Don't worry, the realtors said... demographics and migration all but guarantee soaring demand and soaring prices will continue for Arizona

Oops. Guess they shouldn't have listened to their realtors... 'cause it's a long, long way back down...

Median resale housing prices kept falling through most of the Southeast Valley in March, mainly because there are so many more homes on the market. But it's still too early to say if this will continue for the rest of the year.

The main exception was Ahwatukee Foothills, where prices jumped 6 percent from February to March, to $364,250. But that is still below its December median of $386,250.

Median home prices from February to March fell 5 percent in Gilbert to $322,500, and almost 4 percent in Tempe to $288,400.