November 24, 2024 10:56 am
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Phoenix housing market to see price boom slowdown

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Over the past two years, the tight supply of homes for sale in the Phoenix area has helped to dramatically drive up prices.

However, a new report from the W. P. Carey School of Business at Arizona State University shows change on the horizon.

Read the report here 

Phoenix-area home prices have shot up since hitting a low point in September 2011.

From last August to this August, the median single-family-home price rose 28 percent — from $150,000 to $192,000. Realtors will note the average price per square foot went up 22 percent.

The median townhouse/condo price rose 31 percent.

Continued:

 

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© 2024 Rose Law Group Reporter

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.