>Real estate market sales characteristics in the second quarter of 2011

Real estate market sales characteristics in the second quarter of 2011 The sales ratio of bank houses and bankrupt houses in the Arizona real estate market in the second quarter of 2011 was the first...

Sales Characteristics of the Real Estate Market in the Second Quarter of 2011 The sales ratio of bank homes and bankrupt homes in the Arizona real estate market in the second quarter of 2011 dropped by 5 percent from the first quarter, from 36 percent to 31 percent of sales, but increased by 7 percentage points from 24 percent of sales in the second quarter of 2010. This is data provided by Realty Trac. The lower sales ratio is also due to a decrease in the number of bank and bankrupt homes being offered on the market. The company reports that a large number of bank and bankrupt properties are being sold because of the great deals currently available. In the second quarter, the average bank home sales price was $145,211. This price will be 40% discount than the normal price. In the first quarter of 2011, the discount was 36%, and in the second quarter of 2010, the discount was 34%. Price concessions are the first factor that stimulates consumers. The average sales price of preforeclosure homes scheduled for sale in the second quarter was $192,129, which was also 21% lower than normal home prices. The average discount in the first quarter was only 17%. Due to the price advantage, approximately 162,680 houses were transacted in the second quarter, and the number of transactions was basically the same as in the first quarter. If you have more questions about buying a house, please call Tinna (480)287-0180 Email: goldtrustrealty2010@gmail.com