Used-Home Prices Dropped In July...

Used-home prices dropped in July, but sales up from June, from the Arizona Republic, reports that the median resale price of a Valley home fell to $264,900 last month, after climbing to a record $267,000. The number of July resales rose to 5,545, up from the 5,460 in June. However, July's totals were the weakest since July 1999, when 5,240 resales were recorded. In July 2005, 10,200 resales were recorded. For the first seven months of this year, there were 41,835 resales, compared with 68,235 during the same time frame last year. The numbers were released by the Arizona Real Estate Center at ASU.

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