June Home Sales Down — Along With Area Foreclosures

June home sales dipped by 2.4 percent from last year, according to the Memphis Area Association of Realtors (MAAR), with 1,277 total sales.

And although June sales were down 11.4 percent from May, average year-over-year sales price rose 9.4 percent to $146,198. Year-to-date sales volume increased 16.6 percent to $873.1 million.

Other items of interest:

  • June new home sales decreased 34 percent from 71 in 2011 to 47 this year.
  • June bank sales decreased 9.7 percent from 401 last June to 362 this June.
  • June foreclosures dropped a little more than 10 percent from 355 last year to 319 this year.

MAAR's data include all property transactions in Shelby, Fayette, and Tipton counties. For more home sales statistics, visit www.maar.org/marketreports.

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