Phoenix AZ Resale Median Home Prices Were Down in November
In November of 2007 there were 3,280 resale Phoenix Az metro homes that were sold. Which was down from 3,610 in October. And November 2006 wasn't a good comparison, but there were 5,040 resales then. Phoenix AZ Real Estate home prices continued to go down. The median price of an existing metro Phoenix AZ home fell to $240,000 last month, compared to $242,000 in October. In October of 2006, the median was $259,000. Phoenix metro area home prices are inflated and must fall for the market to recover, acording to industry experts. Prices for homes are extremely soft - It's a great time to be a buyer or an investor. Also, don't forget about new homes, many new home builders are offering $25000 to $150000 off their prices and the incentives beyond that include payings closing costs, no down and incentives to buy down the interest rates.
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