November 17, 2024 9:20 pm
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Luxury market soft as appreciation ascends from below

Luxury market
Luxury market
Homes priced below $250,000 appreciated the most in 2015 in the Phoenix metropolitan housing market, according the latest housing report out of Arizona State University. /File photo

By Paradise Valley Independent

Homes priced below $250,000 appreciated the most in 2015 at a level between 6 and 12 percent, according to the latest housing report released from the W. P. Carey School of Business at Arizona State University.

Homes from $250,000 to $500,000 were up 2 to 6 percent, while homes priced from $500,000 to $2 million moved only slightly. Though the market for homes priced over $2 million was stronger in the beginning of 2015, demand cooled with the financial markets and remains relatively weak as a result.

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