Demand for Phoenix housing weaker than a year ago

Strengths or weakness concept.By Catherine Reagor, The Republic | azcentral.com

As the temperatures climbed in May across metro Phoenix, prospective homebuyers stayed out of the market. Prices were flat, and sales fell dramatically from the year before.

The median sales price for a Valley house was $205,000 in May, the same price it has been since March, according to the latest report from the W.P. Carey School of Business at Arizona State University.

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