Phoenix Market On Fire

According to Forbes Phoenix is one of the local real estate markets that is on fire right now for real estate sales.

Phoenix Real Estate Market
Phoenix Real Estate Market

Source: Forbes.

The Forbes numbers show a 44% drop in inventory year over year and a 33% rise in prices in the same period. Of course that’s looking at the whole metro area and on homes that have a median value of $185,550.

The luxury markets of Scottsdale and Paradise Valley have had a bump but not as high as a 33% gain.