Home prices make gains in 2Q

The National Association of Realtors reported Wednesday the trend in stabilizing home prices solidified in second-quarter 2010 as more metro areas showed improvement over 2009 — including Phoenix. However, the report also noted a surge in sales during the quarter as the home buyer tax credit moved to its final months. And Zip Realty reported Monday that the inventory of homes for sale in the Phoenix area was up 6 percent from June to July, and 13 percent since July 2009. Plus Arizona remains seventh among states for the number of foreclosures filed. Meanwhile, Arizona State University reported today foreclosures accounted for a growing share of local home sales, although numbers are down.

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