11,521 homes for sale

The Arizona Republic reports:

The number of single-family homes for sale in the Southeast Valley reached 11,521 last month, which, if not a record, is at least the highest number in recent years.

The last time the Southeast Valley had listings in the 10,000 range was in late 2002 and early 2003, according to the Arizona Regional Multiple Listing Service Inc.

Realtors and housing analysts believe the number of listings is high because investors have begun dumping houses, home sales are usually slow in the beginning of the year and people who wanted to move held off because it was so difficult to buy another home for about a year.

Even in a growing area in Arizona this should be of some concern to speculators.For those old enough to remember what happening in some areas, in Arizona, in the late 1980's,prices can stagnate or go down.