Phoenix housing market to see price boom slowdown

Iphoenixhousing_hmed_2p.grid-6x2ndependent Newsmedia

Over the past two years, the tight supply of homes for sale in the Phoenix area has helped to dramatically drive up prices.

However, a new report from the W. P. Carey School of Business at Arizona State University shows change on the horizon.

Read the report here 

Phoenix-area home prices have shot up since hitting a low point in September 2011.

From last August to this August, the median single-family-home price rose 28 percent — from $150,000 to $192,000. Realtors will note the average price per square foot went up 22 percent.

The median townhouse/condo price rose 31 percent.

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