November 17, 2024 12:33 pm
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Metro Phoenix home prices continue rise

Metro Phoenix home prices continue riseBy Catherine Reagor | The Arizona Republic

Home prices keep rising in metro Phoenix.

The median sales price of a single-family house reached $190,000 in June, the highest level in five years, according to the W.P. Carey School of Business at Arizona State University. The region’s median home price has climbed 27 percent in the past year.

Home sales were relatively flat in June compared with the same month last year, but ASU real estate analyst Mike Orr said demand for houses is far greater than the supply of houses for sale.

He said the tight supply continues to drive up prices, with multiple bids being offered for most resale houses in lower price ranges.

Continued: 

If you’d like to discuss real estate matters, contact Rose Law Group founder Jordan Rose, jrose@roselawgroup.com

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Rose Law Group Reporter, which provides Dealmaker’s content and service, is contracted by Rose Law Group. Rose Law Group is a full service real estate and business Law Firm practicing in the areas of land use/entitlements, real estate transactions, real estate due diligence/project management, special districts, tax law, water law, business litigation, corporate formation, intellectual property, asset protection, data breach/privacy law, ADA compliance, estate planning, family law, cyber-law, online reputation and defamation, lobbying, energy and renewable energy, tax credits/financing, employment law, Native American law, equine law, DUIs, and medical marijuana, among others. The views expressed above are not necessarily those of Rose Law Group pc or its associates and are in no way legal advice. This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice, please contact an attorney in your community who can assess the specifics of your situation.