Home Resales Down, Prices Up

Cities across the West valley saw the number of housing resales fall in February compared with the same time last year, though the median sales prices were higher.

Peoria saw its median price rise to $275,000 in February, up from $212,000 in February 2005.

Glendale prices rose to $250,000, up from $175,000 a year ago.

Surprise went to $260,000, up from $198,000.

Jay Butler, director of the Real Estate Center at ASU, said "all the signs are for a very good market. It won't be in a hyper mode, and there is no disaster mode sitting out there. It is a market that seems to be acting very normal." More...