Valley Home Resales Slow, But Prices Continue To Rise...

Valley home resales slow, but prices continue to rise, from the Phoenix Business Journal , reports that there were 5,260 recorded resales in January 2006, down from the 6,480 sales in December 2005 and down from the 9,360 sales in January 2005. The information was from the Arizona Real Estate Center at ASU. Jay Butler, Director of the Arizona Real Estate Center, said "the primary news of last year's housing market was the rapid rise in median home price from $194,000 in January to $260,000 in December. However, since the record of $263,000 was set in September, the growth rate has disappeared, with the median price being $257,000 in January, which is still well above last year's $194,000." In January 2006, 19 percent of all recorded sales were for homes priced from $120,000 to $199,999, 41 percent for $200,000 to $299,999, and 36 percent for homes priced over $300,000.

http://phoenix.bizjournals.com/phoenix/stories/2006/02/06/daily55.html?t=printable