Phoenix Real Estate Market 2020 Overview

Phoenix housing market 2020 started so strong that only something as drastic as the ongoing pandemic could have impeded the real estate sector. The year 2020 started with an extreme shortage of houses for sale, and an increasing number of sales over asking price of property owners. In January, many experts expected moderate growth and moderate price appreciation in 2020. In March, the Metro Phoenix’s median home price hit a record of $302,500. The median sales price in Maricopa County for Q1-2020 was $309,990, up by + 12.7% from last year. Even in the times of the Covid-19 pandemic, the sales prices in the Phoenix housing market are not declining.