Radar Logic has recently released its RPX Monthly Housing Market Report for April 2008, the report examines Metropolitan Statistical Areas (MSAs) and measures price per square foot along with transaction counts for each area.
The good news for the Phoenix real estate market is that the transaction count experienced an increase of 23.2 percent from March 2008 to April 2008. There were however some setbacks, as price per square foot dropped 2.9 percent during the same months. The year-over-year price per square foot decline for Phoenix between April 2007 and April 2008 is 25.5% to $122.60, making the city 22nd out of the 25 RPX MSAs studied.
A significant increase in motivated sales is seen in the year-over-year comparison; as Phoenix experienced an increase of motivated sales of 2.2 percent in April 2007, to a 22.2 percent increase in April 2008. However, both motivated and non-motivated sales have shown declines in price per square foot, over the past twelve months.
The best performing MSAs, year-over-year, are Charlotte, North Carolina – 1.5 percent increase in price per square foot, to $99.09; and Columbus, Ohio – 0.1 percent increase, to $96.50. All other MSAs experienced declines between 1.0 percent – Milwaukee, Wisconsin to 31.7 percent – Sacramento, California.
Click on the link to visit Radar Logic Inc. to read their entire report.
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It’s good to see the Phoenix real estate market on the upturn. We need to get some areas going, so it spreads across the nation.
This great news for Phoenix..especially to those real estate agents..they must be expecting a lot of clients now..and more income..
But what is main factor of this increase?
Good news all around for estate agents in Phoenix, I wish it could be the same for us down in London too.