Tampa Bay Business Journal - 10:17 AM EDT Wednesday

In the latest Business Pulse Survey, nearly half of the respondents think the real estate market is showing signs of leveling off. Forty-six percent, or 153 out of 332 responses, signaled a warning to investors and flippers that the boom in residential real estate has peaked.

Only 21 percent, or 71 respondents, think we haven’t seen the top yet and that prices still have some upward room left. Of the rest, the responses were almost evenly divided among those that think the housing bubble has already started downward (16 percent) or that taking the flippers out will balance the market (15 percent).

“The next year or so may see a ‘hold’ pattern, but then it will begin another steady rise,” one reader wrote.

The complete results of the non-scientific poll can be seen in the June 2 print edition of the Tampa Bay Business Journal.

Next week’s survey is up, and we ask about Tampa Bay area drivers. A national survey said that Florida drivers are among the nation’s worst. We ask, is Florida doing enough to keep the bad drivers off the road? What can we do to improve the driving records?

The Business Journal of Phoenix - 2:40 PM MST Thursday
by Diane Arthur
The Business Journal

The Valley housing market slowed in April, registering the lowest sales total for that month in six years, the Arizona Real Estate Center announced Thursday.

The resale market slowed last month to 5,980 sales, a decrease from the 7,264 sales for March 2006 and well below last April’s 8,735 sales.

The report found that April 2006 was the weakest April since 2000, when only 4,870 resales were recorded.

“Historically, April is a slow month as it represents a lull from the end of the holidays and the beginning of the summer recording months,” Jay Butler, director of the Arizona Real Estate Center at Arizona State University’s Polytechnic campus, told the Phoenix Business Journal Thursday.

So far in 2006, there have been 23,960 recorded sales, while the 2005 year-to-date total stood at 36,060 sales at this point in 2005.

Butler said the Valley resale market is returning to a more normal pace, following several years of unprecedented growth.

“And some slowing is good for the market, except for individuals trying to sell their homes right now — they would not agree,” said Butler.

As for resale home prices they continue to rise in most parts of the Valley. In fact, the median home price jumped from $194,000 in January 2005 to $260,000 in December 2005. However, since the record of $263,000 was set in September, the growth rate had been disappearing with the median price being up slightly in April to $264,900 from $263,000 in March and last year’s $221,000.

Butler added that some infill areas of Phoenix and Tempe are noticing an uptick in home resales, as rising gas prices bring buyers back into areas closer to where they work.

Here is a breakdown of April 2006 resales and median home prices, and their corresponding 2005 numbers:

* In Phoenix, resales fell from 2,490 sales to 1,890 sales, while the median sales price increased to $220,000 from last year’s $174,000.
* The Scottsdale resale home market declined from 695 to 460 recorded sales, the median sales price jumped from $475,000 a year ago to $593,000, although it was $595,000 in March 2006.
* The Mesa resale housing market declined from 1,070 to 660 sales, while the median price increased from $195,250 a year ago to $245,900.
* Glendale decreased from 580 to 490 sales, but the median sales price increased from $200,000 to $250,000.
* Peoria’s resale market fell from 365 sales to 250 sales, while the median price moved from $236,000 to $275,500.
* The Sun City resale market fell from 160 to 100 sales, the median sales price increased to $186,700 from $178,500. Resale activity in Sun City West also fell from 90 to 70 sales, but the median sales price increased from $208,700 to $250,000.
* Gilbert’s resale market fell from 475 to 310 sales, but the median sales price increased from $270,000 to $339,000.
* Chandler’s resale market slowed from 595 to 405 recorded sales, while the median sales price increased from $253,340 to $295,000.
* The Tempe resale market decreased from 200 to 160 sales, with the median sales price increasing to $275,000 from $222,000.
* The Avondale resale market fell from 220 to 140 sales with the median price moving from $217,450 to $260,000.
* El Mirage resales decreased from 160 to 90 sales, while the median home price went from $174,900 to $219,900.
* Goodyear declined from 200 to 100 sales, while the median price increased from $230,500 to $298,200.
* The Surprise resale market decreased from 395 sales to 230 sales, with the median price increasing from $220,000 a year ago to $250,000.

The Arizona Real Estate Center is associated with East College at Arizona State University’s Polytechnic campus. The center collects and analyzes data concerning real estate in the greater Phoenix metropolitan area.