June weather was hot....but sales were cold....it's a buyer's market!

The first article, June resale home sales fall to near 2000 levels , from the Phoenix Business Journal , reports that June resales fell to a six-year low with 5,460 recorded sales, according to the Arizona Real Estate Center at ASU. June's activity is down from the 6,870 sales recorded n May. So far this year, there have been 36,290 resales, while year to date resale totals last year were at 58,030. However, Arizona Real Estate Center Director Jay Butler noted that the current level of activity is very comparable to year-to-date recorded sales in 2003, which wasn't too bad of a year. The article gives a city-by-city breakdown of the June 2006 resales and prices, compared with June 2005.
June resale home sales fall to near 2000 levels
http://phoenix.bizjournals.com/phoenix/stories/2006/07/10/daily29.html?t=printable


The second article, June was a cold month for resales , from the Arizona Republic , also reports on the June resale numbers from the Arizona Real Estate Center at ASU. It quotes Jay Butler as saying "It was a lot weaker than I thought it would be. I see a lot of for-sale signs staying up. I'm seeing homes that are on their third agent. Homes are getting initial drive-by activity from buyers, then nothing." For the year, sales are down 38 percent from 2005's record levels, and down 25 percent from 2004 sales levels. The median sales price in June rose to $267,000. John Foltz, president of Realty Executives, thinks sales prices will fall 10 to 12 percent this year but said that prices rose 40 percent last year. "This is a very healthy adjustment", he said.
June was a cold month for resales
http://www.azcentral.com/php-bin/clicktrack/print.php?referer=http://www.azcentral.com/arizonarepublic/news/articles/0713resale0713.html



The Arizona Republic also has articles from all of the SE Valley community sections specifically discussing the resale numbers in each city, which we have included in the following links:

Ahwatukee home resales plummet
http://www.azcentral.com/php-bin/clicktrack/print.php?referer=http://www.azcentral.com/community/ahwatukee/articles/0713ar-evresales0713Z14.html
Home resales plummeting in Chandler
Dive 'a surprise' but prices up from June '05
http://www.azcentral.com/php-bin/clicktrack/print.php?referer=http://www.azcentral.com/community/chandler/articles/0713cr-resales0713Z6.html

Gilbert home resale prices up slightly
http://www.azcentral.com/php-bin/clicktrack/print.php?referer=http://www.azcentral.com/community/gilbert/articles/0713gr-resales0713Z12.html

Mesa median home price increases
But sales numbers decline in traditionally strong June
http://www.azcentral.com/php-bin/clicktrack/print.php?referer=http://www.azcentral.com/community/mesa/articles/0713mr-resales0713Z11.html

Scottsdale Home resales slide 13 percent
Scottsdale prices inch up as market cools
http://www.azcentral.com/php-bin/clicktrack/print.php?referer=http://www.azcentral.com/community/scottsdale/articles/0713sr-homesales0713Z8.html