Phoenix-area home prices up 20% in past 12 months
Home prices are surging in metro Phoenix, climbing 8% in March alone and 20% in the past 12 months. The median price of a house in the region climbed to $134,900, according to a report from the W. P. Carey School of Business at ASU. The trend is projected to continue throughout the year, although at a slower pace. Mike Orr, director of the Center for Real Estate Theory at ASU credits the turnaround to steep drops in foreclosures and in the number of homes for sale, coupled with an increase in sales.
Read article - azcentral.com
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