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Home Sales Skyrocket in Phoenix Metro Area
As November, 2019 rolls around home sales are soaring in the Phoenix metro area with mortgage rates continuing at near record low levels, job employment growing and with approximately 6,000 new residents moving to Maricopa County each month per US Census Data. New homes are being built rapidly in perimeter cities and apartments and condo projects are being built along new freeways and infill projects.
 
Phoenix residents are experiencing an increase in home sales. Here is a quick snapshot of September 2019 local housing data:
• Closed transactions : 7,800, up year over year by 14.1%
• Median Sales Price : $280,000, up year over year by 7.7% (includes condos and townhomes)
• Days on Market : 40, down year over year by 4 days
• Months Supply of Inventory : 1.8 down year over year by 33.3%
 
    We have Lift Off! Home Sales SKYROCKET in Phoenix AZ metro area (Photo: David Mark, Pixabay)
 
While signaling the end of 2019’s peak selling season, September home sales rose nationally 8.1% year-over-year – the largest year-over-year increase since November 2016. Home purchases increased in 47 of the report’s 54 markets, forcing already tight inventory totals to drop 6.1% year-over-year for the biggest decline in over a year.
 
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