Home sales totals on record pace

Home sales totals on record pace, from the Phoenix Business Journal, also reports on R.L. Browns latest Phoenix Housing Market Letter. It reports that resales totaled 116,435 through the end of October 2005, up nearly 24.5 percent from the 93,562 sold during the first ten months of 2004. Brown said that the 30 percent increase in the median price of new homes and the 43 percent jump in the median price of resale homes over the last 12 months had to begin slowing. The median price of new homes is $251,000 and the median price of a resale home is $249,000, according to his report.

http://phoenix.bizjournals.com/phoenix/stories/2005/11/28/daily8.html?t=printable