Are we there yet? Metro Phoenix home prices near 2006 record; only one ‘wildcard’ could slow price growth, says real estate consultant Jim Belfiore

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.

READ ON:

“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.”

~Jim Belfiore, President Belfiore Real Estate Consulting

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