Phoenix MLS Home Sales
Realtors in the Phoenix real estate market reported 7,490 homes sales in May 2014. That's 178 less than April. Year-over-year sales are down considerably from 9,444 homes sales in May 2013. Additionally, home sales are the lowest since 2008. Realtors normally report spring and early summer as a time of year when home sales are seasonally escalating. Home buying demand is down in the Phoenix real estate market. Looks like we'll be in a home buyer's market for a while. For a complete look at sales trends go here: PHOENIX REAL ESTATE MARKET
Price per square declined after 2 months at $130. The chart provides a 12 month perspective.
NOTE: Michael Orr of the Cromford Report noted "...that the disappearance of distressed (foreclosure) sales almost accounts for the entire drop in year to date Phoenix MLS sales between 2013 and 2014."