The Arizona Regional MLS (ARMLS) has published its July home sales report for the Phoenix Metropolitan area.
Highlights include:
- June home sales continue to increase, following a five month trend
- June sales were the high monthly total in the past 12 months AND number of sales were the highest since August 2005
- If this year’s home sales continue tracking at their current rate, 2010 sales could could exceed 100,000, and go on record as the second highest sales year ever.
- Inventory has held steady all year long, with just over 40,000 units.
- The Months Supply of Inventory metric has remained just under 5 months for all of 2010.
- Average and median list prices set new record lows for the decade.
- Sales prices have been showing signs of stabilization.
- However, the ARMLS Pending Price Index continues to predict a slight reduction in sales prices.
- As of this report, pending foreclosures are down, and lender owned sales continue to decline.
- Average Days on Market (DOM), or the number of days it takes to get an accepted contract has been fairy stable over the past year.
Read the report to get complete commentary and graphic view:
{ 2 comments… read them below or add one }
Thanks for painting a picture based on REAL data. It’s maddening to see the difference between what the media reports and what is really happening.
Kristin, With the fairly significant changes seen in the month of August, it will be interesting to see what this chart looks like when the update comes out later this month.