How’s The Phoenix Home Market?

Home prices are definitely on the rise and inventory is very low. This is causing bidding wars again in many neighborhoods. The reasons behind the rebound in our market are varied but a lot of it is centered around the value of investment property to rental pricing and demand. The laws of supply and demand are definitely in play and with the increasing prices more people are getting “right side up” on their mortgages again. As displayed in the graphs below you can see what the market trends are.

Phoenix average property price
Phoenix Homes For Sale
Phoenix – number of properties
Phoenix Homes For Sale

Questions or comments are certainly welcome. I can be reached at tlee@tleerealty.com

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