It was reported by the Arizona Republic that the recent ASU Realty Studies report on April year over year resales was flawed. Their report indicated a significant increase in resales, which is at odds with the Arizonal Regional Multiple Listing Service (ARMLS) data for the same period. The ASU report included homes taken back by lenders due to foreclosure as resales. Due to the increased number of foreclosures, this has skewed ASU’s resales analysis. They will correct for this in the next report.
Looking at Tempe year over Year, ASU had reported 120 resales April ’07 vs. 100 April ’08, one of the few cities that had declining resales according to their report. The MLS data indicates 151 April ’07 vs. 105 April ’08 closed transactions. It’s probably safe to say that Tempe foreclosures did not have much impact on the ASU data.
Copyright © 2008 Rod Rebello
www.TempeAgentNews.com
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