Phoenix Housing Market Still Strong Because it Offers Bargains

The Phoenix housing market is one of many that has “experienced above-average price appreciation in the last year after lagging the national average in prior years.” And while it may seem hard to believe, Phoenix´s previously lackluster real estate market has contributed to its recent zoom in property values.

Over the last five years, Phoenix housing prices have risen 67.3 percent and 30.5 percent in past year alone, leaving the median price of Phoenix housing at $169,400.

It´s obvious that until now the Phoenix housing market had been overlooked by outside buyers and investors, but as more people refuse to buy in overpriced markets, Phoenix housing and real estate in the city´s suburbs are becoming more and more popular. The Phoenix real estate market is doing as well as it is because it is still a bargain to buy a house in the city.