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City of Phoenix median home price up 47% since March!
Dr. Jay Butler of Realty Studies at ASU came out with his Phoenix area residential real estate sales and median price numbers for July 2009. Realty Studies is associated with the Morrison School of Management and Agribusiness at Arizona State University’s Polytechnic campus.
More »Greater Phoenix median home price up $9,000 in two months
Dr. Jay Butler of Realty Studies at Arizona State University (ASU) came out with his Phoenix area residential real estate sales and median price numbers for June 2009. Realty Studies is associated with the Morrison School of Management and Agribusiness at Arizona State University’s Polytechnic campus.
Greater Phoenix - Median Home Price
(Excludes repossessions but includes sales by banks after they repossess. ASU calls these “Traditional Sales”)
More »Phoenix median SFR home price UP $4,000
Price (green line)
The median price in metro Phoenix of single family homes sold via the MLS rose $4,000 from $118,000 in April 2009 to $122,000 in May 2009. If the median home price continue to increase, it will once again match prices seen in the year 2000.
More »Phoenix housing inventory down to only a 5 months supply!
Price (green line)
The median price in metro Phoenix of single family homes sold via the MLS fell to $118,000 in April 2009. The median home price in Phoenix, Arizona hasn’t been that low since sometime in the 1990’s. I only have data back to January 2000.
More »Pending home sale data suggests a bottom in Phoenix, Arizona
On the one hand...
It looks like the median home price in metro Phoenix is bottoming out, at least temporarily.
Let's look at some of the evidence on the one hand and leave the other hand for another day.
Video discussion - CLICK HERE
More evidence of a possible approaching bottom for Phoenix home prices
It may not be the final bottom but it certainly looks like a significant change in direction. It is likely the beginning of the end of falling home prices, although absolute bottom for the median home price may be many months out.
In a typical year, higher median prices in the Spring are followed by lower median prices in the Fall / early Winter. In a typical year, however, the Spring rise is larger than the Fall fall so the median price tends to ratchet up a bit over the year. This year may not be that way.
The point is, this may not be the absolute bottom but it's a change to see any bottoms in the listing data.
More »