Prices of sold Pinal County homes skyrocket over past month
Arizona City Independent
The average price of homes sold in Pinal County last month increased by about $10,000 from the previous month, according to month-to-month data.
Despite the sharp increase, the number of existing homes sold in the county still increased slightly. However that wasn’t the case in the rest of the West as rapidly rising prices have caused sales to taper off.
According to data provided by the National Association of Realtors Friday, sales fell in the South and West, but increased in the Midwest during April.
Overall, sales of existing homes across the country rose 1.7 percent last month to a seasonally adjusted annual rate of 5.45 million.
Americans are eagerly searching for homes. But rising prices and few sales listings have limited the number of people who can afford to buy. Steady hiring and ultra-low mortgage rates have provided a foundation of buyer demand. That demand, however, has yet to coax more sellers into the market during the traditional spring buying season when sales volumes are generally highest.
