Archive for housing prices down

The National Association of Realtors reported Wednesday that prices in Phoenix stayed firm in the second quarter 2010.

They accredited it to the tax credit’s final months and the falling interest rates. There continues to be an inventory of homes for sale in the Phoenix area, up 6% from June to July and 13 percent since July 2009. Arizona remains seventh among states for the number of foreclosures filed which accounted for a growing share of local home sales although the numbers are down.

The median price for a home resale in Phoenix stood at $144,700 in the second quarter, according to the NAR, a 10.4 percent increase over second-quarter 2009, but still well off the 2007 median of $257,400.

The number of single-family home sales also is up. NAR reports a seasonally adjusted annual rate of 157,200 homes based on second-quarter activity in Arizona. That’s up 3.1 percent from the first quarter and 4.5 percent compared with a year.

Phoenix median home prices
 2Q 2010: $144,700 up
 1Q 2010: $140,900 down
 4Q 2009: $143,900 up
 3Q 2009: $142,700 up
 2Q 2009: $131,100 down
 2008: $191,300 down
 2007: $257,400 up

Phoenix median condo prices
 2Q 2010: $87,500 down
 1Q 2010: $88,300 down
 4Q 2009: $94,600 down
 3Q 2009: $100,200 down
 2Q 2009: $104,100 down
 2008: $162,400 up

Source: National Association of Realtors