Phoenix home prices still climbing

By Catherine Reagor | Arizona Republic

Metro Phoenix home prices and sales climbed in May, and both are poised to increase again in June.

The Valley’s median home price increased $10,000 to $435,000 last month, according to the Arizona Regional Multiple Listing Service.

The area’s median is expected to hit $440,000 in June based on pending sales.

Home sales in metro Phoenix jumped 21% in May to almost 7,900.

A tight supply of houses for sale in the Phoenix area is offsetting some of the market’s slowing due to higher interest rates.

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July 3, 2023

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