I’m thinking this afternoon that the median [single family] home price in metro Phoenix could rise from its current $163,500 (December 2012), to $190,000 to $200,000 by June.
The actual number for June was $194,000.
So, I’m obviously happy with that forecast.
I don’t have a solid feel for where the median Phoenix home price will be next June (2014).
Prices probably won’t be a ton higher next June than they are right now (for most of metro Phoenix).
I expect the price increases in 2014 will be far, far less than in 2012 or 2013, that’s for sure.
Time will tell.