Here is a snapshot of Phoenix Home Sales for June. The was an increase in the price/sqft for homes sold in June.
Inventory continues to decline with only a 2.8 month supply of homes.
Phoenix Foreclosures
Foreclosures are being snapped up quickly, leaving only a 1 month supply of foreclosed homes. There is talk of another wave of foreclosures later this summer- only time will tell.
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It is great to see that the market is digesting its problems. Infortunately for many, foreclosures and losses. May be if it keeps up it can eventually normalize again.