Buyers and sellers alike all want to know one thing... How is the market?
Here is what June looked like for Phoenix...
Our listing count is up and sales volume stays relativly high and similar to this time last year. We have been holding steady around 9,000 units sold for the last few months.
This continues to be a record number of homes sold in the valley month over month. The only months we come close too was during our boom in June 2005 when we were at close to 10,000 units sold.
What about prices?
We are now at a median home price of $127,000 which has been on a steady increase of about 8.7% a year since we bottomed out in April 2009.
Foreclosure sales continue to trend down as lenders are still holding on to their infamous "shadow" inventory lists. Short sales have the majority of the market in most valley cities and actually sell for less in most cases than foreclosures.