phoenix homes for sale

Strong Gain in Existing Home Sale in Arizona

Strong Gain in Existing Home Sales in Arizona

“For the first time in five years, existing-home sales have increased for four months in a row, according to the National Association of REALTORS®. The last time sales rose for four consecutive months was in June 2004, and the last time sales were higher than a year earlier was November 2005.

Largest Gain in a Decade

The monthly sales gain was the largest on record for the total existing-home sales series dating back to 1999.

“Because price-to-income ratios have fallen below historical trends, there are more all-cash offers. In some recovering markets like San Diego, Las Vegas, Phoenix, and Orlando, the demand for foreclosed and lower-priced homes has spiked, and a lack of inventory is becoming a common complaint.” …….