Archive for March 13th, 2008

Phoenix February Median Home Price Down 15% Year Over Year

Jay Butler of ASU Realty Studies has released his February housing report for Phoenix for the first time since the housing market began its decline in Phoenix, the median price declined at a greater rate than sales.  Sales were down 11%: [Edit 11% is MOM.  Year-over-year sales were down 13.3%] MESA, Ariz. — February is a short month, and it is traditionally not a strong month for home sales. With 3,710 recorded sales, the resale home market did improve over January (3,350 sales), but was behind last year’s 4,280 transactions. This year’s numbers are very comparable to the 3,885 of…
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Tucson Home Prices Experiencing A Long Term "Blip"

The headline in yesterday’s Arizona Star was Home Price Median Here Below $200K: The Tucson real estate market hit a milestone in February: The median price dipped below $200,000 for the first time in almost three years. The median price dropped to $199,900, down about 9 percent from $219,500 in the same month last year, said a report issued Tuesday by the Tucson Association of Realtors Multiple Listing Service. You gotta love this comment from the TAR: Rick Hodges, chief executive officer of the Tucson Association of Realtors, said the association didn’t take much notice of the median price change…
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