Prices Up 4% So Far This Year
The median home price in metro Phoenix was up 4% from January through April, 2015. That’s a full year’s worth of “normal” appreciation in only 4 months.
I expect that metro Phoenix home prices will continue strongly up through June, possibly through July, and then prices will level off for the rest of 2015.
It’s a fascinating market right now. No one I know expected such strong price increases January-April. I can’t wait to see how the rest of the year plays out.
Like last month, I’m a little worried that the inflation-adjusted price is getting too high. That’s bad for homebuyers and long-term market stability. You can CLICK HERE and then scroll down to see the inflation-adjusted median price chart.
Phoenix Real Estate Market at a Glance
Note: When this post was first published in May 2015, the chart only had sales data through April 2015.
What do you see? What’s happening around you? Please leave a comment.