April Phoenix Home Sales At 4-Year High
Phoenix April Home Sales Highlights from DQNews:
1. A total of 9,972 new and resale houses and condos sold in the Phoenix metropolitan area in April, up 3.6% from March before and up 10.7% from a year earlier. April’s total sales were the highest for that month since April 2006, when 12,669 homes sold.
2. The region’s overall median sale price rose above the year-ago level for the second consecutive month, reflecting widening price stability and fewer foreclosures and other properties selling below $100,000. Buyers paid a median $135,889 last month for all new and resale houses and condos in the Phoenix metro area, up 0.7% from March and up 8.7% from $125,000 a year ago.
3. One of the most noticeable changes in the mix of sales this year versus last year is the decline in foreclosure resales: Last month they represented 50.5% of the resale market, compared with 64.9% a year earlier. The peak for foreclosure resales was 66.2% in March 2009.
MP: Phoenix home sales for April are at a four-year high, median home prices are 8.7% above a year ago, and foreclosure sales are declining, all signs of a healing and recovering real estate market.