May 13 — A report from Arizona State University’s Morrison School of Management and Agribusiness brought some welcome good news to the Arizona market for active adult communities recently. The school found that price drops in the area of over 30% helped spur increased sales in retirement communities among snowbirds during March.
The areas experiencing the largest sales activity are in the West Valley - where the newer towns of Surprise, El Mirage and Goodyear are located. Apparently sellers’s willingness to drop prices has at last been met with some interest by buyers. The older, more established communities of Glendale, Peoria and Avondale have seen more price stability and lower sales volume.