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Phoenix housing prices increase, sales decrease

PHOENIX — Phoenix housing prices increase as sales decrease.

According to Fletcher Wilcox, vice president of business development at Grand Canyon Title Agency, median sales prices for existing single-family homes went up by over 32 percent since last February.

In February 2012, the median sales price was $137,000. In 2013, prices rose to $180,236, which is the second highest its been since the beginning of the recession in 2008.

With the high prices, home sales are going down. Since last February, single-family sales dropped from 5,277 to 4,807.