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News Article From: 01-08-2010Phoenix Market Shows Signs of Life - A total of 8,544 new and resale houses and condos closed escrow in the combined Maricopa-Pinal counties metropolitan area in November, down 6.7% from October but up 62.0% from a year ago, according to DataQuick. The month’s total was the highest number of November sales since 2006. Gross residential sales volume has improved year-over-year for 11 consecutive months in the Phoenix MSA. The volume of resale transactions, which excludes new home sales, continued a 17-month run of year-over-year increases in November as well. Foreclosure resales accounted for 52.2% of all resale transactions, down slightly from a 53.7% share in October. It’s the lowest share of total transactions since September 2008 when foreclosure resales accounted for 49.8% of all sales. Foreclosure resales peaked at 66.2% in March 2009. http://www.housingwire.com/2010/01/08/phoenix-market-shows-signs-of-life/ |
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