Phoenix housing market

After a seasonal slowdown during the scorching summer months, the metro Phoenix housing market was back on the upswing again in October with existing home prices up more than 34% year-over-year and new-home sales up a whopping 85%, according to ASU’s W. P. Carey School of Business. The median single-family home price climbed to $157,000 in October, compared with $116,800 in October of last year. “The summer lull ended, and we had an influx of snowbirds and other buyers,” Michael Orr said in the report. “We’re seeing about 5% more sales activity this October than last October.”

Posted in Business, Property