It's easy to see the year over year change in the median sales price for Maricopa County, from $265,000 in July 2017 to $290,000 last month - an increase of 9.4% for the year.
What we won't know for a while yet is whether July's drop from June's $295,000 median price is due to seasonality, or part of a larger change in trends. (I've posted about seasonality several times in the past, most recently here and here - showing the prices rising more in the spring than the fall.)
I suspect it's the former, but we'll keep our eyes on it just in case it's the latter...
- Chris Butterworth
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* All chart data represents single-family detached homes only. Information is believed accurate but not guaranteed.