Phoenix Overcoming Bad Housing News

Nationalmortgagenews reports from Phoenix, Ariz. as the number of lender-repossessed homes on the market declined 43 percent from Nov. 2011, the median price of previously-owned homes and condos hit $167,500, the highest level since Oct. 2008 when the median price was $175,000. MHProNews has learned, according to DataQuick of San Diego, the November median was 39.4% below the Phoenix area’s all-time peak of $264,100 in June 2006, but it 41.5% higher than the median’s post-peak trough of $118,347 in August 2011. Additionally, the number of existing homes and condos sold in November hit a seven-year high, 8,525 units, down 3.8 percent from Oct. 2012 but up 9.8 percent from the previous Nov.

(Photo credit: PhoenixHomes)

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