Oh, man, Phoenix is so F'd I'm not sure if they even realize it yet. HP does... 47,225 listings by the way - let's see 50!!!
Code red on housing
Real estate analyst RL Brown has gone code red on the Valley's housing market. In his May newsletter released last week, Brown changed the background on his forecast from yellow to red. Yellow stood for caution. Brown has done the color codes signaling his take on the market for the past few years.
He has never gone red before. Brown said the red signals the housing "market continues to deteriorate. Hopefully that condition and color will be short-lived."
May 29, 2006
Posted by blogger at 5/29/2006