ASU report shows Phoenix foreclosures up again

Posted: Updated:

PHOENIX -- A new report shows the number of foreclosed homes in the Phoenix area edged up last month after two months of more positive news.

The Arizona State University Realty studies report shows foreclosures made up 36 percent of the existing homes sold in June were foreclosures. In May, it was 33 percent.

ASU real estate professor Jay Butler had warned that his May report showing improvement might just be a "blip."

More than 3,800 foreclosure sales were recorded in June, 600 more than in May. Last June, when 4,000 foreclosed homes were sold.

In all, nearly 6,900 existing homes sold in the Phoenix area in June, more than 1,000 fewer than a year ago. The median home price was $143,000, down slightly from $144,000 in May. In June 2009, the median sales price was $134,000

(Copyright 2010 by The Associated Press. All Rights Reserved.)