The number of home sales in Phoenix during the first month of 2020 experienced the highest year-over-year increase in over a decade
Home sales in the Phoenix area saw an average increase rate of 10.5% in 54 metro areas, according to the RE/Max National Housing Report for January.
“Home sales in Phoenix continued to soar with a nearly 20% increase year-over-year," AZ Big Media recently reported. "Home sellers in Phoenix continue to enjoy favorable conditions with a steady rise in median sales price and decrease in the number of days on market,”
Adam Contos, CEO of RE/MAX Holdings Inc., said that January’s sales were influenced by the recent influx of millennial buyers to the housing market.
“It’s a massive group of people, with many of them forming households and looking to buy their first homes,” Contos said. “Affordability and limited supply are still constraints, but overall, housing is in a much better place than it was a year ago.”
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