2007 Resale Housing Market Should Be A Good Year...

Scottsdale's resale home market declines 21%, from the
Arizona Republic, reports that Scottsdale's resale home market continued its
decline in sales in May with a 21 percent decline from last year, according
to the latest report from Realty Studies at ASU. But median prices rose less
than 1 percent for homes, and 4 percent for condos and townhomes.
Scottsdale's median home price of $617,000 last month was up $2,000 from
last May. Condo prices went up from $261,500 last May to $273,250 last
month, but sales fell 3 percent. Still, Jay Butler, Realty Studies director,
sounded an optimistic note on the overall Valley market. "The general
expectation is that the 2007 resale housing market should be a good year,
but no where near the records," Butler said. Sales dropped Valleywide in May
by 24 percent from last year.



http://www.azcentral.com/community/scottsdale/articles/0612sr-homesales0613-