Feb. Phoenix Homes Sales Highest Since 2007
DQ NEWS -- "A record-high portion of investor and all-cash purchases lifted Phoenix-area February home sales to a four-year high for that month. The median sale price dropped year-over-year for the eighth consecutive month as sales of existing homes priced below $100,000 remained strong and sales of newly built homes, which are typically more expensive, held at a record-low."
A total of 7,248 new and resale houses and condos closed escrow last month in the combined Maricopa-Pinal counties metropolitan area. That was up 5.5 percent from the month before and up 6.2 percent from a year earlier. Last month’s sales were the highest for a February since 8,940 sold in February 2007."
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The median sale price dropped year-over-year for the eighth consecutive month as sales of existing homes priced below $100,000 remained strong and sales of newly built homes, which are typically more expensive, held at a record-low.
Another year or two and we might have a real bottom.
I just returned from a week in the Phoenix area (baseball Spring Training & golf). One of the days I took a long walk through a Scottsdale neighborhood, and I noticed just two houses for sale out of several hundred. This surprised me very much because I expected "for sale" signs to be ubiquitous.
Bernanke's QE2 is working, but we need QE3.
It is a great time to buy a home in Phoenix, Florida, Las Vegas, Texas, all the places where losers live. etc.
Here in Los Angeles, prices never really feel that much, and the market has some life in it already.
"I noticed just two houses for sale out of several hundred. This surprised me very much because I expected "for sale" signs to be ubiquitous"...
Well Buddy R consider the following site in light of your experience: All Greater Phoenix Foreclosures and Real Estate For Sale
There's an interactive map there and I noted for the Scottsdale area the following in Paradise Valley just north of Scottsdale: 'Total listings 552
Average Price $2,089,521
Median Price $1,427,340'...
Now to me those seem like pretty healthy prices but what do I know...
I note one can do a search specifically for Scottsdale and there are lots of lender owned and bank owned properties for sale...
Juandos, thanks for the link of homes for sale in Scottsdale/Phoenix. Yes, I wondered into Paradise Valley and did not realise it. Paradise Valley, it seems, is adjacent to Scottsdale on the westside. The homes are expensive in Paradise Valley BUT the condos in adjacent Scottsdale have moderate prices.
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