"That (2005 sales
volume) was ... due to rising home values and a
type of euphoria about
said. "Now we're seeing a totally different type
of activity driven by foreclosures."
Foreclosures were up in
December, at 4,060, compared with the previous
month's total of 2,985, and the median
single-family home price decreased to $140,000
from $143,000 in November, according to the ASU
Home resales increased,
with 5,740 sales in December compared with 5,350
sales the previous month.
Compared with December
2008, foreclosures increased about 31 percent,
the median resale price was down 4 percent, and
resale volume was up 33 percent.
Some local analysts
include parts of Pinal County in their data, but
ASU's data include strictly Maricopa County.
Both data sets showed similar trends.