Phoenix area MLS posts the 8th largest closing month in history

No question that sales are up in the Phoenix metro area.

May was the 8th largest closing month in Arizona Regional MLS history (number of homes sold) and June is expected to be the largest ever.

Of the 9290 closed home sales in May, 63% were lender owned (REO), 11% were short sales & 26% were marked "other". Wow, a whopping 74% were non-traditional sales (how long before REO and short sales ARE considered traditional? Never, I hope.)

76% of these sales were under $200,000.

Interesting to note that 55% of all May home sales in the greater Phoenix area were sold to either investors or second home buyers.

And now...for your viewing pleasure ~

Chandler's Inventory, Sold and Price per square foot graphs~