Greater Phoenix Housing
As the world economy stabilizes, Greater Phoenix home inventories are growing substantially, driving prices down and offering buyers exceptional value.
Cities across the region are taking stock of what they offer residents and even how they offer it.
Every city and town has a different feel, a different vibe and a different perspective. And every city and town wants to maintain its unique attitude, and also evolve to meet both the needs and expectations of the region's every-growing population.
As communities make strides in crafting more singular indentities and enhancing amenities, home buyers will see excellent opportunities to find a home in a community offering them a uniquely Arizona version of the 21st century lifestyle.
Real Estate and Housing Resources
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Greater Phoenix Area Median Home Sales
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| Year |
Single Family Resale |
Single Family New |
Multi-family Resale |
Multi-family New |
| 1998 |
$113,585 |
$139,070 |
$77,500 |
$119,400 |
| 1999 |
$120,000 |
$146,710 |
$81,900 |
$136,070 |
| 2000 |
$128,900 |
$150,770 |
$86,000 |
$152,350 |
| 2001 |
$136,000 |
$156,560 |
$90,500 |
$163,710 |
| 2002 |
$144,900 |
$159,990 |
$95,500 |
$162,660 |
| 2003 |
$155,000 |
$173,240 |
$103,275 |
$184,700 |
| 2004 |
$174,185 |
$195,000 |
$114,530 |
$186,485 |
| 2005 |
$240,500 |
$251,795 |
$150,000 |
$214,615 |
| 2006 |
$260,600 |
$306,355 |
$174,000 |
$225,400 |
| 2007 |
$255,000 |
$285,085 |
$176,000 |
$253,650 |
| Traditional |
$260,000 |
$285,640 |
$177,700 |
$253,000 |
| Foreclosure |
$218,080 |
$247,625 |
$152,690 |
$286,465 |
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| 2008 |
$186,000 |
$235,955 |
$150,000 |
$231,000 |
| Traditional |
$200,500 |
$235,695 |
$160,000 |
$234,900 |
| Foreclosure |
$169,915 |
$255,605 |
$126,925 |
$170,875 |
Affordability Index for New Homes is the highest it has been since 2005 Q2 (Index for 2008 Q2 = 84)
Affordability Index for Resale Homes is the highest it has been since 2005 Q1 (Index for 2008 = 106)
Source(s): Realty Study Center @ Arizona State University, Polytechnic Campus, August 2008
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