Rick Murray Market Quotations

It is clear speculators have headed for the exists in Phoenix. Given the increase in mortgage rates recently, it would seem as if this market will continue to face increasingly more challenging conditions, especially in light of the enormous surge in inventory.

Land prices coming down would seem to suggest that there's some acknowledgement that the market has changed in perhaps more than just a temporary way.

We suspect the future of this market may unfold similarly to the recent slowdown in Washington, D.C., or a situation similar to the events that transpired in Las Vegas a little over a year ago,