Robust Home Sales Push Prices Higher
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Low inventory and strong sales continue to put upward pressure on prices, as existing home sales rose across all of suburban NoPho, the I-17 corridor from Norterra to New River. In October, 163 homes were sold in the region, a 16 percent increase over the previous month and 17 percent higher than last October.
Prices rose in four zones, falling only in one of the five zones, and price per square foot was flat or higher in all zones. Inventory, a measure of homes available for sale given the current pace, remained extremely low across the region, and dipped further in Anthem Parkside to the lowest level in years. Details by zone:
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. .