National real estate sales statistics were published January 25, 2010 showing December 2009’s national sales fell 16.7% from November 2009.
Let’s see how these national numbers compare to the Phoenix metro area:
1) 2008 versus 2009 sales. Phoenix did 10x better.
National: 5% more
Phoenix: 55% more
2) December 2009 versus November 2009 sales. Phoenix did much better.
National: down 16.7%
Phoenix: up 2.2%
3) Inventory of homes. Phoenix is doing better.
National: 7.2 months of resale inventory
Phoenix: 5.2 months of resale inventory
(6 months is considered an even seller-buyer market)
4) Median sales price, December 2009. Phoenix is much lower, which means more affordable.
National: $178,300
Phoenix: $126,500
5) 2009 sales prices versus 2008 sales price. Phoenix performed terribly.
National: prices fell 12%
Phoenix: prices fell 31%
Phoenix’s home prices bottomed out in early April and have increased since then.
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