Metro Phoenix median home price hits new record

By Catherine Reagor | Arizona Republic

It won’t surprise the many frustrated buyers in metro Phoenix that home prices climbed to another record last month.

A lack of supply from sellers and a rise in demand from buyers propelled the median home price to $329,000 in September. That’s an almost 18% jump for the year.

The heady pace of home price increases has many buyers frantically trying to outbid each other and more sellers unwilling to compromise.

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