No clear trend on resales

An Arizona State University report issued on metro Phoenix's home-resale transactions in June contains lots of numbers but no answers, according to its author, ASU housing analyst Jay Butler. For every positive trend the report highlights, there is a corresponding negative trend, said Butler, associate professor of real estate at ASU's W.P. Carey School of Business. For instance, the median resale price of recently foreclosed-on homes in Maricopa County was higher in June than it had been a year earlier, but the number of sales was lower, he said. "It's difficult to figure out where this is all headed," Butler said Thursday, speaking not only of the June housing data but of the many conflicting economic indicators showing up in a variety of recent reports. June is typically one of the Valley's strongest months for home sales, which tend to remain brisk throughout the summer and then slow down in September, Butler said.

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