Phoenix Metro Home Prices Moving Upward

phoenix home prices going upAccording to Arizona State University’s Repeat Sales Index the bottom of our housing price decline may have been reached in April 2009 when our median sales price hit a low of $117,000 and we seem to be crawling out of the pit.  July’s preliminary median price report is a price of $125,000 with August at $127,000. 

That looks like a rebound to me.  I’ve been watching the numbers for over 2 years and have been reporting sales prices on the rise as well.  Glad to know the “experts” are backing me up!