Subtle shifts in Arizona real estate markets

October 31, 2012

Real estate expert Michael Orr favors price per square foot over median price when tracking changes in the Maricopa and Pinal County market. That’s because price per square foot reveals incrementally small price changes, allowing us to see movement long before median price is affected. This was especially important in the latest report, for September 2012, when the median price was flat, but price per square foot went up slightly. Orr says the upward movement will continue based on daily sales data he sees. Other highlights from the September report include an increase of activity on the city’s edge, a slowing of new construction and signs that investors may finally be moving out of the market. Orr, who is the director of the Center for Real Estate Theory and Practice at the W. P. Carey School of Business, explains.