There are more positive signs from metropolitan Phoenix's housing market. We don’t want to say it IS recovering BUT it doesn't appear to be deteriorating any more.
Home sales were up again in June to reach 9,614, according to the Information Market/Cromford Report survey. That's an 11 percent increase from May's home sales. June is the sixth straight month home sales have climbed in the Valley.
The median Valley resale-home price also climbed in June, the first monthly price increase since late 2007. Last month, the median ticked up to $125,000 from $122,000 in May.
Foreclosures also rose in June after dropping off for a few months. There were 5,149 trustee sales or foreclosures in the Valley, compared with 3,809 in May.
Pre-foreclosures, or notice of trustee sales, continue to hold around 8,700.
So far, the additional foreclosures aren't creating an oversupply problem for the housing market.
Also, the average price per square foot of foreclosures sold by lenders during June climbed to $65.64 in June from $63.77 in May.
Arizona Republic
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