Real Estate Recovery: Phoenix, Miami, Las Vegas
PHOENIX -- A total of 8,639 new and resale houses and condos closed escrow in the combined Maricopa-Pinal counties metropolitan area in August, down 15.5% from July but up 20.2% from a year ago. Total home sales have increased on a year-over-year basis for eight consecutive months. Last month’s sales were at the highest level for an August since 2006.
MIAMI -- In August, 7,178 new and resale houses and condos closed escrow in the metro area encompassing Miami-Dade, Palm Beach and Broward counties. That was down a relatively sharp 9.6% from July but still up 27.4% from 5,635 in August 2008. August marked the sixth consecutive month in which the region's sales have risen on a year-over-year basis.
LAS VEGAS -- A total of 4,716 new and resale houses and condos closed escrow in the Las Vegas-Paradise metro area (Clark County) last month (August), down a record 11.2% from July but up 16.5% from a year ago. August marked the 12th consecutive month in which sales have risen on a year-over-year basis.