By Catherine Reagor | The Republic
Could June be the month metro Phoenix home prices rebound to the record they hit in 2006?
A new analysis of pending sales in the Valley shows prices are nearly there.
In May 2006, metro Phoenix’s median home price hit $259,900. Then in June, it set a record at $264,800, according to Arizona Regional Multiple Listing Service data.
“Phoenix-Area home price appreciation is likely to continue to grow, with anemic supply and an enormous population of “re-emerging” and millennial buyers finally making the decision to buy. The only factor likely to slow price growth is the less predictable rising interest rate environment.”
