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The first article, September slow for home resales, from the Arizona Republic, reports that the Valley resale market continued to slow in September as only 4,875 existing homes sold in the month, down from the 9,815 sales in September 2005. The median resale price fell to $256,900, down from $263,000 in September of 2005. The information was released yesterday by the Arizona Real Estate Center at ASU. The price drop is one of the reasons cited for skittish buyers staying on the sidelines. "The problem gets to be what is the incentive to move into the market," said Jay Butler, head of the Real Estate Center. "There are way too many listings, way too many homes for buyers to see," said Bridgette Gavagan of West USA's Arrowhead office. "It makes it hard for buyers to make a decision."

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The second article, Median home price drops $20,000, from the Arizona Republic Ahwatukee, reports that the median resale price in Ahwatukee fell $15,000 from a year ago and now sits at $340,000. From September 2005 to last month, Ahwatukee sales dropped from 160 to 95. It was $354,950 in September 2005. Like much of the Valley, Ahwatukee Foothills had a "good percentage of investor homes", noted Jay Butler. Butler said he doesn't expect the Valley's housing market to improve soon. "We probably aren't going to see much changes coming. People don't really want to look for a home during the holiday season," he said. In Gilbert, the median price was $318,500, down from $320,000 in August and down from $325,000 in September 2005. In Chandler, the median resale price fell to $292,500 down from $308,000 in August and down from $295,000 in september 2005. In Mesa, prices dropped from $243,500 to $240,000 from September 2005.

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The third article, Home resale prices continue to slump, from the Arizona Republic Scottsdale, reports that prices of existing homes dipped 3.1 percent in Scottsdale from August to September. About half as many homes and condos were sold in Scottsdale in September compared with a year ago. Investors might be getting nervous and dropping their prices, said Jay Butler. "The bet is we'll see further (price) erosion this year," he said of the Scottsdale market. Scottsdale's median price has ranged over the past year from $525,000 last December to a peak of $640,000 in June. Just over 3,600 homes have been sold in Scottsdale through September, down 47 percent for the same period a year ago, and condo sales have dropped 35 percent to 2,280.

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