Home sales rose in the Phoenix area rose more than usual in December from November and posted only a slight year-over-year sales decline as the market saw gains in investor activity, foreclosure resales and sub-$100,000 transactions. The median sale price fell on a year-over-year basis for the sixth consecutive month, to the lowest level in just over 12 years, a real estate information service reported.

While December’s new-home sales remained extraordinarily low, the number of homes that resold rose year-over-year for the first time in eight months, to the highest level for a December since 2005.

A total of 8,706 new and resale houses and condos closed escrow during December in the combined Maricopa-Pinal counties metropolitan area. That was up 22.1% from the month before but was down 1.4% from a year earlier, according to MDA DataQuick. The San Diego firm tracks real estate trends nationally via public property records.

On average, sales have risen 10.7% between November and December since 1994, when DataQuick’s complete Phoenix region statistics begin. December’s 22.1% gain in closed transactions compared with November reflects, among other things, a jump in foreclosure resales and increased housing affordability thanks to lower prices and ultra-low mortgage rates in recent months.

December’s total home sales were the lowest for that month since 2008 and fell 7.1% below average for December sales since 1994.

Sales of homes priced below $100,000 increased to 39.7% of all sales in December, up from 36.5% in November and 30.8% a year earlier.

December’s total resales – existing (not new) houses and condos combined – rose 23.0% from November and rose 2.9% from a year earlier, to the highest level for a December in five years.

It was a 32.2% year-over-year drop in new-home sales that tugged the region’s overall December home sales down 1.4% from a year earlier. December sales of newly built houses and condos were the lowest for that month since 1997. New-home sales represented just 8.4% of total Phoenix-area sales in December, compared with 12.2% of sales a year ago and an historical monthly average of nearly 24%.

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