Phoenix Housing Market Sees Price Increases for Homes, Condos

Researchers at Arizona State University say rising interest rates don’t appear to be affecting the Phoenix-area housing market, which is making a comeback.

A report from the university’s W. P. Carey School of Business shows the median single-family home price in the area rose to $190,000, up roughly 27 percent from last June when the price hovered around $150,000. The report also noted the median price for condominiums and townhomes went up dramatically to $125,000, a nearly 40 percent increase.

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