Slowing Market in Phoenix, AZ

[Eric Mukai]

I'm looking for any opinions and feedback on my market evaluation. (FYI I am a resurrecting real estate investor trying to re-enter the real estate game. I moved 3 years ago from Hawai) I live in the north central Phoenix area and have been watching the trends in the market here over the past 9 months.  I think a sidewards-trending market is developing in our Valley. Phoenix is certainly not in a RE slump--my current residence went up $45k since we bought it last year. However, I confidently state that the market also hasn't been hot since around the middle of this summer. Now some might blame it on weather, but I think it's quite clear that when you look at listings, they are sitting longer, experiencing price cuts, and inventory is building. In my opinion, a sideways market here is great because you can work creative deals as sellers will become motivated. I have done a couple of creative financing deals in the past, so the prospects in PHX have me getting excited. Anyone familiar with our area want to comment, for or against my view of our market?