Housing Bubbles and Booms

The AZ Republic today talks about the availability of more homes for buyers, and that this trend might be signaling a change in the housing market:

After dropping steadily for the past year, the number of homes for sale in the southeast Valley has begun increasing, theoretically giving buyers more choices.

But there is still such a shortage of homes for sale and such pent-up demand that realistically priced homes continue to sell at hyper-speeds, and anxious buyers are sometimes waiving home inspections and appraisals, real estate agents say.

"It was a feeding frenzy. Now it's down to a dull roar," said Barry Kramer, owner of Keller Williams Realty Ahwatukee Foothills.

Read the whole thing for several different perspectives on the issue. My only evidence for housing trends is anecdotal, and for Morrison Ranch, things aren't letting up yet. As a matter of fact, Morrison Homes has a list of folks interested in Highland Groves homes that's longer than I am (and even though I'm short, that's a lot of names). They've even had folks drive out to another sales office to talk about Highland Groves homes. And they will be selecting 8 folks or so from a drawing being held this Friday, announcing the "winners" on Saturday. For those interested in a Morrison Homes-built product in Highland Groves, check out their website for information on the drawing.