Greater Phoenix Real Estate News

Greater Phoenix Real Estate News In the past six months, the median price of homes in Greater Phoenix has been around $115,000, which is the lowest price in the past decade...

Greater Phoenix Real Estate News In the past six months, the median price of homes in Greater Phoenix has been around $115,000, which is the lowest price in the past decade. The lowest value for home prices in major U.S. cities occurred in March and April of this year, but unlike the greater Phoenix area, it occurred at the end of last year. The median price in Phoenix fell from $121,000 to $115,000 last November, and has remained stable ever since. Some recent key real estate data, such as the number of bankruptcies and short-sales homes, indicate that real estate is likely to recover slowly this year. May of this year had the fewest bankruptcy filings since 2007, with only 4,221 filings. There were really only 4,212 bankruptcies last month, and the best data available is that there were only 27,400 bankruptcies being processed, compared with 42,000 two years ago.