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Phoenix Region May Home Sales 2012
The median price paid for a home in the Phoenix area last month rose to a 41-month high, increasing on a year-over-year basis for the sixth month in a row. The region’s overall sales trended slightly higher as mid- to high-end activity jumped again, compensating for a sharp ongoing slide in sales of lower-cost homes, especially foreclosures, a real estate information service reported.
In May, buyers paid a median $150,000 for all new and resale houses and condos sold in the combined Maricopa-Pinal counties metro area. It was the highest median for any month since December 2008, when the median was $154,000. Last month’s median rose 5.6 percent from April and rose 25.0 percent from May 2011, according to San Diego-based DataQuick, which tracks real estate trends nationally via public property records.
The median's 25.0 percent year-over-year increase in May followed annual gains of 18.3 percent in April, 13.8 percent in March, and 7.5 percent in each of the prior three months.
Last month’s median sale price stood 43.2 percent below the all-time peak of $264,100 in June 2006, but it was 26.7 percent above the median’s post-peak trough of $118,347 in August 2011.
To some extent, the large year-over-year gains ... more

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