November 20, 2024 10:22 am
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Metro Phoenix’s median home price fell $8,000

By Catherine Reagor | Arizona Republic

Metro Phoenix’s median home price dropped $8,000 in December and is expected to fall another $2,000 in January.

The Valley’s overheated housing market abruptly started cooling in June, and the slowdown continued through the end of the year.

The median home price in the Phoenix area fell from $420,000 in November to $412,000 last month, according to the Arizona Regional Multiple Listing Service.

And the median is expected to dip to $410,000 this month, according to pending sales.

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