Phoenix area’s median home price set to hit a record $400,000 in June

By Catherine Reagor | Arizona Republic

Metro Phoenix’s median home price is poised to hit a record $400,000 in June, up almost $100,000 from a year ago.

It’s become a bit of a broken record to report Valley home price records each month, particularly for buyers.

But that’s the price forecast based on pending sales from the Arizona Regional Multiple Listing Service. The real estate agent group has been right on or within a few thousand dollars monthly for prices during the housing market’s wild ride since last summer.

Out-of-state and second-home buyers, as well as investors, are all helping drive up Phoenix-area home prices, and new data shows by how much.

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