Median listing price for Metro Phoenix home tops $500,000 for 1st time
By: AZ Big Media
The median listing price for a home in Metro Phoenix topped $500,000 for the first time, nearly $100,000 more than the national average for home prices.
Nationally, home prices hit $405,000 for the first time ever in March, but data reveals there is some hope on the horizon for pandemic-era buyers. With demand beginning to moderate as some home shoppers are priced out of the market and new construction at near 16-year highs, inventory is expected to hit positive territory year-over-year this summer, according to the Realtor.com Monthly Housing Trends Report released today.