Metro Phoenix’s median home price is expected to climb almost $12,000 in March after dropping most of the past six months.
Home sales jumped in February and are on track to increase again in March.
Both are indicators that the Valley’s housing market isn’t headed anytime soon for a repeat of the crash that rocked the economy during the Great Recession, contrary to what at least one Wall Street firm said would happen this year.
Sales and prices are still down across the Phoenix area compared to the first few months of last year, but so is supply. That’s keeping the market favoring sellers.