AZ: Phoenix Home Prices Rise, Foreclosures Drop

Phoenix Real EstateA new report from the W.P. Carey School of Business at Arizona State University finds that home prices are rising and foreclosures are declining in the Phoenix-area housing market.

Mike Orr, director of the Center for Real Estate Theory and Practice, said in a news release that the median price for all sales, including new-home sales, was $120,500 in January – an increase of about 6.5 percent from a year earlier.

In January, there were about 2,450 single-family home foreclosures in Maricopa and Pinal counties – a decrease of 49 percent from a year earlier.

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Full Story from the East Valley Tribune

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