Phoenix home prices up, but sales fall in Nov.

home prices

By Cathome pricesherine Reagor, The Republic | azcentral.com

A dip in listings and a pick-up in investor purchases helped metro Phoenix home prices tick up during November even as sales fell.

The Valley’s median home sales price climbed from to $208,000 in October to $210,990 in November, according a new report from the W. P. Carey School of Business at Arizona State University.

The region’s median home price was up 5.5 percent from November 2013.

“Prices in the Phoenix-area housing market remained relatively flat in 2014, when you take into account the general level of inflation,” said Mike Orr, director of the Center for Real Estate Theory and Practice at the W. P. Carey.

Valley home sales fell 21 percent from October to 5,299 in November.

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