Home prices in the Phoenix Housing Market have increased again, this time by $4 per square foot to $120 in May 2013. This is becoming old news because the Phoenix real estate market has been experiencing this trend since March 2011 when the average price per square foot was $77. Low housing inventory and near normal foreclosure levels continue to be the cause.
The Arizona Regional Multiple Listing Service recorded 9,444 homes sales in the Phoenix Housing Market making it the 4th consecutive month home sales increased. The last time home sales were over 9,000 in our real estate market was