Homes For Sale in Phoenix Arizona
Homes for sale in Phoenix Arizona. Summer and hot weather are a definite part of Phoenix, but real estate is hot here too. Metro Phoenix home prices are rising faster than anywhere else in the country, according to the latest national data. Recent data showed the region’s median resale-home price was a little more than $138,000. That’s a 24 percent increase since the post-boom low in August, 2011. Phoenix home values are around mid-2002 levels, which makes it a great time to be buying. The incredibly low rates and a widespread desire for a quality life in the Valley of the Sun are serving to heat up the marketplace. Buyers are getting record-low levels of affordability.
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Many resale listing are getting multiple offers in the first day or two on the market. With demand comes a rise in prices. Some buyers, who can’t get to the listings fast enough or whose offers are beat out by ‘cash” investors are considering new construction. The city is seeing a noticeable rise in permits with many builders pouring pads and starting to build again. K Hovnanian Homes at Happy Valley and Black Canyon Highway, Del Webb at Fireside at Desert Ridge and Pulte at Northgate, and several others are reporting increased business.
Phoenix is Arizona’s capital and largest city. Phoenix was ranked as the sixth most populous city in the USA, and is also the most populous state capital in the United States. It is the anchor of the Phoenix metropolitan area (also known as the Valley of the Sun). Located in the northeastern reaches of the Sonoran Desert, Phoenix has a subtropical desert climate. In summer, average high temperatures are typically over 100 °F (38 °C). Don’t let that stop you from buying a home here though. The winter temperatures are amazing. Phoenix is generally flat, aside from all the gorgeous mountains in and around the city. The Phoenix area is surrounded by the McDowell Mountains to the northeast, the White Tank Mountains to the west, the Superstition Mountains far to the east, and the Sierra Estrella to the southwest.