New High Prices reached
Hi,
Records continue to be reached in the Phoenix metropolitan area when it comes to real estate.
Median home prices have reached a new high at almost $250,000. The new median high is $249,900 up 43% from $175,000 at the same time last year. 11,545 existing homes sold last month, just shy of last years record of 11,656 for the same month.
Even with that, the year to date total is up to 58,035 existing homes sold from 48,220 last year at the same time.
Many factors continue to drive the market including low interest rates, and a continuing influx of people from more expensive markets where these prices seem like a bargain.
More later,
Adam Tarr and Sharon Kotula
Your Best Realtors