Housing affordability in metropolitan Phoenix, AZ remains extremely good due to low interest rates and a low median home price, although the affordability of resale homes did fall bit in the third quarter.
Graph created by John Wake, HomeSmart Real Estate, based on ASU data.
This ASU index uses income, interest rates and median home prices to calculate how affordable homes are in the Phoenix area. Homes become more affordable when incomes increase or when interest rates or home prices decrease.