Prospective homebuyers who have their fingers crossed that metro Phoenix home prices will crash this year so they can find deals will be disappointed.
The Valley’s median home price is poised to hit another record.
Many buyers are scouring for deals as last year’s Phoenix-area median home price hit $268,000 in June, an all-time high.
More than half of metro Phoenix neighborhoods posted double-digit price increases in 2018, The Arizona Republic’s latest Street Scout Home Values report shows.
And most Valley neighborhoods, particularly ones closer in, have recovered from the Great Recession’s bust.
“Expect home appreciation in the Phoenix area to climb again this year, though it will be a little weaker than last year’s pace,” said Tina Tamboer, a senior housing analyst with the Cromford Report. “Prices are on pace to climb 5 to 6 percent now, but last year it was 8 percent.”
Where prices soared –
Many of the neighborhoods with the lowest-priced houses posted the biggest gains in 2018.
Source: AZ Central; To read the full article, please click here
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