That's Down 20% From Last Year...

Home sales drop in numbers, price, from the Business
Journal of Phoenix, reports that there were 5,220 homes sold in Maricopa
County in May, about half the number sold in 2005, according to Arizona
State University's Realty Studies Department. Year-to-date, about 24,000
homes have been sold. That's down 20 percent from last year and about half
the number from 2005. The median home price also dropped to $262,000 in May,
down $3,000 from the same time last year. "The general expectation is that
the 2007 resale housing market should be a good year, but nowhere near the
records," said Jay Butler, director of Realty Studies at ASU. In May, 16
percent of all recorded sales were for homes priced from $125,000 to
$199,999, 42 percent were for homes in the $200,000 to $299,999 range and 39
percent were for homes priced at more than $300,000. Last year, the median
prices trended higher across the board.



http://phoenix.bizjournals.com/phoenix/stories/2007/06/11/daily26.html?t=pri