June Was A Cold Month For Resales...

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.



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