Phoenix-area home prices up slightly in August - FOX 10 News | fox10phoenix.com

Phoenix-area home prices up slightly in August

Updated:

TEMPE, Ariz. (AP) - Phoenix-area home prices crept up slightly in the past month and so did the supply of available homes.

A new Arizona State University report shows prices rose by about 1% between July and August, making up for a similar drop the previous month. Prices are up by nearly 35% from a year ago.

ASU Professor Mike Orr says there were slightly more homes on the market in August but still less than a month's supply. Sales of bank-owned homes decreased because foreclosures are dropping.

The median price for a single-family home in Maricopa and Pinal counties in August was $150,000.

The median home price was $114,000 in July 2011.

Orr says he thinks prices are on track to continue rising.

Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Powered by WorldNow

KSAZ-TV & KUTP
511 W. Adams St.
Phoenix, AZ 85003

Phone: (602) 257-1234
Fax: (602) 262-0177

Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | New Terms of Service What's new | Ad Choices