New house shoppers in Phoenix might find lower prices

RE ArtBy Catherine Reagor | The Arizona Republic

Buyers shopping for a new house in metro Phoenix might find prices a little lower than a few months ago.

The median price for a new home in the Valley fell to about $292,000 in June from almost $305,000 in May, according to information from RL Brown Reports.

Sales of new and existing homes have been lower than expected during the past few months as fewer buyers pull the trigger. But the median resale home price has hovered around $205,000 for the past few months.

Some builders, but not all, in the Phoenix area are lowering home prices to draw more buyers. At the same time, some new homebuyers are opting for less pricey houses and add on amenities.


Related: Tucson housing market stays flat in June



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