Home Prices Continue Rising, Inventory Remains Tight

Sales of existing homes in June softened in four of five zones of NoPho, the I-17 corridor from Norterra to New River, but the total, 183, was just two less than last June. Prices rose in four of five zones, and price per square foot was up across the board.

Inventory remains tight across the region, and extremely tight in each of the four suburban areas.

Nationwide, year-over-year home sales were down 1.1 percent in May, the most recent month tabulated by the National Association of Realtors. The median home price nationwide was $277,700, up 4.8 percent year-over-year. Inventory nationally is at a 4.3-month supply, historically low.


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Robert Roy Britt
NoPho resident Robert Roy Britt has written for In&Out publications since its inception in 2005. Britt began his journalism career in New Jersey newspapers in the early 1990s. He later became a science writer and was editor-in-chief of the online media sites Space.com and Live Science. He has written four novels. Email the author.
Robert Roy Britt on Email

Robert Roy Britt

NoPho resident Robert Roy Britt has written for In&Out publications since its inception in 2005. Britt began his journalism career in New Jersey newspapers in the early 1990s. He later became a science writer and was editor-in-chief of the online media sites Space.com and Live Science. He has written four novels. Email the author.

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