Valley home prices continue to rise

By Serena O’Sullivan | KTAR

PHOENIX — The shortage of homes in the Valley is keeping home prices up, according to one local economist.

“If you’re looking month over month, so our last month of May, we’re up about 2.5% year over year,” Danny Court, senior economist with Scottsdale-based Elliot D. Pollack & Company, told KTAR News 92.3 FM on Tuesday. “But year to date, we’re up nearly 5%.”

The Valley is still experiencing a shortage of homes, he said.

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