June Resales Slower Than Expected

June resales fell to a six-year low with 5,460 recorded sales, according to the Arizona Real Estate Center at ASU. June's activity is down from the 6,870 sales recorded in May.

So far this year, there have been 36,290 resales, while year to date resale totals last year were at 58,030. However, Arizona Real Estate Center Director Jay Butler noted that the current level of activity is very comparable to year-to-date recorded sales in 2003, which wasn't too bad of a year.

The article gives a city-by-city breakdown of the June 2006 resales and prices, compared with June 2005. More...