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Phoenix Area November Home Sales 2012
Sales of existing houses and condos in the Phoenix area rose to the highest level for a November in seven years, while the median price paid for all homes sold in the region was the highest in more than four years, a real estate information service reported.
Buyers paid a median $167,500 for all new and resale houses and condos sold during November in the combined Maricopa-Pinal counties metro area – the highest level since the median was $175,000 in October 2008. The November median rose 4.7 percent from October and rose 31.9 percent from November 2011. It was the median's 12th consecutive month with a year-over-year gain, according to San Diego-based DataQuick, which tracks real estate trends nationally via public property records.
The November median was 39.4 percent below the Phoenix area's all-time peak of $264,100 in June 2006, but it was 41.5 percent higher than the median’s post-peak trough of $118,347 in August 2011.
The relatively large year-over-year gains in the region's median sale price since March – ranging from 13.8 percent to 32.2 percent – reflect several trends. Prices have risen as greater demand has met a relatively low supply of homes for sale. But the median has ... more

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