According to a recent article from the National Association of Realtors (NAR) existing home sales in June 2010 dropped since since May 2010 after the tax credit expired at the end of April.

…Existing home sales which are completed transactions that include single-family, townhomes, condominiums and co-ops, fell 5.1 percent to a seasonally adjusted annual rate of 5.37 million units in June from 5.66 million in May, but are 9.8 percent higher than the 4.89 million-unit pace in June 2009.

How does this stack up to what we’ve experienced locally in our our Phoenix area real estate market?

A similar Yearly Market Comparison of Maricopa County with the same property types reflect:

Sales increased this year in Phoenix with 7904 sales in May compared to 8057 sales in June. There were 8114 sales in June of 2009 which indicates as a very modest drop from this time last year.