"They have a very different attitude from the normal seller," Orr said. "They're very happy to get it off their hands."
Not all areas are suffering though.
In 85255 in North Scottsdale, average sale prices there have actually gone up 11 percent since the start of the year.
It's an area with few foreclosures, so prices haven't been dragged down as much.
"I think we have a little piece of heaven here," said Joseph McCune, who's looking to sell his house for $685,000. "You're not going to find any worries or concerns from me."
Joe Andrea isn't concerned either.
He lives in 85018, which covers East Phoenix and Arcadia.
There's been relatively little turnover there, leading to prices going up six percent since January 1.
"We're centrally located. That's why it's stayed so prevalent and good through this tough economy," Andrea said. "I think people are looking for a good investment right now and this is it."
Valleywide, Orr said prices have now hit bottom and they'll stay pretty flat for several months before they slowly tick upwards.
"Low mortgage rates, a tax rebate from the government, and cheap prices, you know, there's not many reasons not to buy a house," Orr said.
Enter your zip code in the box below for single family home sale prices, comparing December 2008 to April 2009. Zip codes with fewer than 10 homes sales are excluded. Data provided by The Cromfort Report.
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