Valley Real Estate Market Shows Slow April Sales...

Valley real estate market shows slow April sales, from the Phoenix Business Journal, reports that Valley resales fell in April to their lowest sales total for that month in six years, according to the Arizona Real Estate Center at ASU. April 2006 totaled 5,980 sales, a decrease from the 7,264 sales for March 2006 and well below April 2005 sales of 8,735. It was the weakest April since 2000, when only 4,870 resales were recorded. "Historically, April is a slow month as it represents a lull from the end of the holidays and the beginning of summer recording months," said Jay Butler, director of the Arizona Real Estate Center. So far in 2006, there have been 23,960 recorded sales, down from the 36,060 for the same period in 2005. Butler said the Valley resale market is returning to a more normal pace, following several years of unprecedented growth. Resale home prices continued to rise in most parts of the Valley, with the median resale price growing to $264,900 in April, up from $263,000 in March.



http://phoenix.bizjournals.com/phoenix/stories/2006/05/08/daily36.html?t=printable