Saturday, August 30th, 2014

Foreclosures Down, Home Prices Up In Phoenix Metro Area

House-prices-up-risingForeclosures in the Phoenix metropolitan area housing market have returned to normal levels while the median price for single-family homes continues to increase.  That is according to a new report from the W.P. Carey School of Business at Arizona State University. 

It says foreclosures triggered by the housing crisis on single-family homes and townhomes and condos in May were down 53-percent from May 2012. 

The median price for a single-family home in the Phoenix metro area rose to $185,000 in May.  That is a 26-percent increase over the median price of $147,000 in May 2012.

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