Phoenix May 2007 Home Sales

Phoenix area home sales sank to an eight-year low in May, marking the 18th consecutive month in which sales have fallen on a year-over-year basis. The trend has taken a toll on the region's median sale price, which has fallen below year-ago levels for four straight months, a real estate information service reported.
The median price paid for all homes sold in the combined Maricopa-Pinal counties metropolitan area was $250,000. That was down 0.8 percent from $252,000 in April and down 5.3 percent from $264,000 in May 2006, according to DataQuick Information Systems of La Jolla, Calif. The firm tracks real estate trends nationally via public property records. Entire report HERE

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