Phoenix and Vegas prices

[Glen Rosen]

Hello,
Have Phoenix and Las Vegas prices for SFR fallen over the last three months and what do you think will happen with prices over the next three to six months? I'm interested in a three bedroom home in that sells for about 150 thousand.

[Nick J.]

Phoenix has actually had some dropping going on in the last month or two. There was an article on azcentral.com but I can't find it now. It wasn't too drastic, but there was a significant drop from 30 and 60 days ago.

Personally, living in Phoenix and being a long time native I of course would love to see the upswing sooner than Vegas which is very possible. Either way, I won't be buying anymore rentals until at least spring of next year here in the valley. All my short flips are going to retail buyers.