Phoenix Business Journal
The huge gains in Phoenix-area home values over the past few months have started to mellow this summer, according to the latest housing report released Thursday by Arizona State University’s W.P. Carey School of Business.
In June, the median single-family home price in metro Phoenix was $150,000. That’s up 2 percent, or $3,000, from May, the ASU report said. While the month-to-month gain was modest, June figure were up 29.3 percent from a year earlier.
Sales of single-family homes in June were down 16 percent from a year ago, which was largely driven by the diminishing supply of existing homes on the market.