Phoenix Home Prices Rise 34% in 2012

According to the Phoenix Business Journal, "After a seasonal slowdown during the scorching summer months, the metro Phoenix housing market was back on the upswing again in October with existing home prices up more than 34 percent year-over-year"

More news from the same article indicates that the median sales prices are going up. " single-family home price climbed to $157,000 in October, compared with $116,800 in October of last year, the report said. The October price gains were also notable given the fact that area’s dramatic surge in home prices earlier this year had leveled off in the four months prior, hovering around $149,000 and $150,000. It was also better than September when the median single-family home price, $150,000, was up by 27 percent year-over-year.

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