Although the average sale price per home has dropped from $268,682 to $226,839 from July of 2008 to July of 2009, the 19% increase in total sales of detached single family homes in Gilbert, AZ from 701 last year to 841 this year has effected a 1% increase in total sales. Mesa, meanwhile, has seen an even greater jump over 2008 with a 50% increase from 807 houses sold in August of 2008 to 1218 sold in 2009. Queen Creek's climb has been more mild at 11% (from 721 in '08 to 806 in '09).
Foreclosure Rates Going Down. A recently occurring phenomenon is
dropping Arizona foreclosure rates. It seems that many lenders have been holding off on foreclosure until October when the new Arizona law that was supposed to protect small lenders would make it possible for lenders to go after all of the money they were owed in many cases. Fortunately, our good
legislators got some sense and repealed the law before it went into effect.
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