A new report by real estate researchers at Arizona State University says the median home price in metro Phoenix during November, 2012 increased by 35% when compared to the same period a year before.
The report by the university's W.P. Carey School of Business says the median price for a single family home stood at $162,500 in November, 2012. The price was $120,000 in November, 2011.
The researchers say the rising figures mean that investors are finding fewer bargains to snap up. They say cash offers are on a downward trend and that more ordinary buyers are able to successfully compete for homes.