Housing frenzy cooling, Buyers Take Advantage...

Housing frenzy cooling, from the Arizona Republic, also reports on the drop in the median resale home price. The article quotes Jay Butler stating "the housing market is returning to normal. It was bound to happen." The article also states that mortgage rates began to climb in September, which could account for some of the housing market slowing.

referer=http://www.azcentral.com/arizonarepublic/news/articles/1111housingprice11.html

Buyers gain clout in housing market, from the Arizona Republic, reports that with the cooling real estate market, buyers suddenly have more power to fight for house deals. Sellers aren't necessarily calling the shots and can no longer assume a house will sell quickly. Buyers are now gaining the upper hand, though it's too soon to call it a buyers market. But it is headed in that direction. With more homes for sale, sellers are cutting prices. "People who bought homes in September likely bought at the peak," said Jay Butler. "But this dip isn't cause for alarm. The market is just getting back to normal."

referer=http://www.azcentral.com/business/articles/1111buyersmarket11.html