ARIZONA HOUSING STATISTICS : BREAKING RECORDS!!
June was a record month for Arizona housing. 10,868 home sales occurred in June of 2011, surpassing the previous record of 10,252 units sold in June of 2005.
June was also a record month for home leases of Single Family Residences. 2,280 new leases were executed last month, beating the previous record of 2,002 leases in July of 2008.
Typically home sales and leases go in the opposite direction, but with all the short sales and foreclosures occurring – there are a lot of people changing residences.
Arizona short sales also set a record, contributing to 2,734 sold units – up 33% from May.
We are still very much in a market fueled by investors. 41% of Single Family Residences sales were purchased in cash. 29% with conforming loans, 24% with FHA loans, 4% with VA loans, and 2% with others.
Lastly, the median home price in Arizona increased in June to 111,000 from 109,000 in May.
(Arizona Housing statistics – breaking records – from Reggie Green @ Crossline Capital)
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