Foreclosure, REO sales account for 67% of Phoenix home buying: ASU � HousingWire:
"Tuesday, September 21st, 2010, 10:40 am
In August, the greater Phoenix area witnessed the second highest level of foreclosure home sales activity this year, according to research by the Arizona State University W.P. Carey School of Business.
Out of the 8,790 total resales, 3,990 (or 45%) homes were foreclosure sales —where the transaction occurred at a county auction. There were 3,865 foreclosure sales in July and 3,085 in August 2009. Coupled with REO sales, foreclosure activity made up 67% of recorded home buying activity for the month of August, according to the report.
Total existing home sales were down, as was the median selling price, down 1.7% and 3% from July, respectively. A total of 8,790 properties were sold at an average price of $139,585. Compared to last year, existing home"
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In August, the greater Phoenix area witnessed the second highest level of foreclosure home sales activity this year, according to research by the Arizona State University W.P. Carey School of Business.
Out of the 8,790 total resales, 3,990 (or 45%) homes were foreclosure sales —where the transaction occurred at a county auction. There were 3,865 foreclosure sales in July and 3,085 in August 2009. Coupled with REO sales, foreclosure activity made up 67% of recorded home buying activity for the month of August, according to the report.
Total existing home sales were down, as was the median selling price, down 1.7% and 3% from July, respectively. A total of 8,790 properties were sold at an average price of $139,585. Compared to last year, existing home"
AND NOW - The rest of the story - click on title link above
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