Prices up in Phoenix, but it's still a complex picture

Phoenix home prices continued to rise in April, up 25 percent over last year, although the number of homes sold declined. A change in the mix of homes for sale and continuing tight supply is contributing to the increase in price. But, prices have not yet reached the point where greater numbers of sellers will be lured into the market. Mike Orr, director of the Center for Real Estate Theory and Practice at the W. P. Carey School of Business, collects and analyses the data monthly.

Phoenix home prices continued to rise in April, up 25 percent over last year, although the number of homes sold declined. A change in the mix of homes for sale and continuing tight supply is contributing to the increase in price. But, prices have not yet reached the point where greater numbers of sellers will be lured into the market. Mike Orr, director of the Center for Real Estate Theory and Practice at the W. P. Carey School of Business, collects and analyses the data monthly. Monthly Report -- Greater Phoenix Housing Market, April 2012