Phoenix Home Sales Up 11% in June While Home Prices Remain Level

Home sales in the Phoenix Metro Statistical Area (MSA) rose 11% from May, but fell short of a year ago for the second consecutive month. A total of 10,430 new and resale houses and condos closed escrow last month in the Maricopa-Pinal counties metropolitan area, up 11.2% from May, but down 2.8% from a year ago, according to MDA DataQuick. The number of newly built homes sold in June rose 35.1 percent compared with May and rose 26.9 percent from a year ago. Still, last month’s new-home sales were the second-lowest for a June in more than a decade as builders continued to struggle to compete with low-cost distressed sales.

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