38.5% of all homes sold in June 2009 in the Phoenix area real estate market were homes under $100,000. 90.1% of those homes were Metro Phoenix foreclosures. These homes sales have played a major role in the decreasing home values in the Phoenix area real estate market. As stated in a previous post, 70.6% of all sales in June 2009 were Metro Phoenix foreclosures.
These homes under $100,000 have created a unique situation in the Phoenix area real estate market: a "seller's market" within the larger "buyers market." Click here for more details.
Read the chart in this manner: 9,358 homes sold in June 2009 in the Phoenix area real estate market. 3,599 were homes under $100,000, or 38.5% of all homes sold in the Phoenix area real estate market. 3,242 of those homes were Metro Phoenix foreclosures, or 90.1% of all homes under $100,000.
Note that the percentage of "sold" homes under $100,000 has been on a two-month decline from the 43% recorded in April 2009.
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