Recent data from Redfin shows that the U.S. median sale price in February was $386,527 which is up about $4,000 from January. Even with this slight rise, the rate at which house prices continue to rise has slowed and list prices could drop as soon as this summer.
In Arizona, the average house price was $407,500 in February which is a $1,000 increase from January and about a $27,000 decrease from last year.
As prices rise across the state, it may be wise to avoid the following list of the five most competitive cities to purchase a home:
- Mountainaire, AZ
- Kachina Village, AZ
- Circle City, AZ
- Fort Valley, AZ
- Munds Park, AZ
More information about home prices in your area can be found here.