Phoenix Home Prices Rebounding

Home prices in Phoenix AZ have increased more than 20 percent year of year as reported by Standard & Poor’s/Case Shiller index reports and the Cromford Report.  Cities in Arizona with the highest increase include Scottsdale (up 9%), Paradise Valley (up 12%), Cave Creek (up 19%), Carefree (up 1%), Fountain Hills (up 10%) and Gold Canyon (up 10%).

New home sales in Phoenix Maricopa County have sky-rocketed by 20 percent more than resale single family homes due to the stiff competition of investors with cash offers, which is one of the reasons folks are turning to new home purchases.

Another popular home buying option that’s topping the charts is Condos and Townhomes.  Resale condos have jumped 41 percent over prior year, while new sales on condos and townhomes has dropped 66 percent.

What does all this mean for the home buyer looking at the Phoenix Metro for their next home? Get in now while the gettin is still good.  Prices are climbing and inventory is shrinking.  Don’t wait!  Stop by our Free Phoenix MLS Home Search website to find your next home.

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Artisan Real Estate Group LLC. Phoenix Arizona Real Estate Broker, Agent, and Trustee Sales
Robert Jeffrey, Designated Broker
3239 West Lone Cactus Drive
Phoenix, AZ 85027

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