Sales volume for existing homes in the Valley is at its highest level since 2006 — before the last crash and recession — and is up 18 percent versus last year.

That is according to Phoenix regional housing data crunched by real estate expert Fletcher Wilcox.

For the first quarter sales volume for existing homes came in at $5.02 billion. That is up 18.1 percent over the first quarter 2016 and highest in more than a decade.

It translates int a $769.2 million gain over the first quarter of 2016, according to Wilcox who puts out quarterly real estate research report.

There were 15,622 sales in the first quarter of this year with an average sale price of $321,086.

That compares the first quarter in 2012 when there 16,405 sales but a volume of $3.14 billion and average price of $191,668.

First quarter 2017 existing home sales are up 12.4 percent over the same period last year.

Wilcox — vice president of business development and real estate analyst for Grand Canyon Title Agency — said the inventory of home listings is flat right now.

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