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Homebuyers taking advantage of low prices in Phoenix

Phoenix is seeing rising house sales, driven by reasonable prices.

Phoenix is seeing rising house sales, driven by reasonable prices.

Many people are on the move in Phoenix, according to the Arizona Regional Multiple Listing Service June 2011 STAT report.

According to the report, May's home sales volume of 9,809 units represented an 8.1 percent year-over-year increase from 2010, and was the second-highest number of sales since the pre-recessionary market of August 2005.

May marked the third consecutive month in which Phoenix home sales broke 9,000, which the ARMLS attributes to the continuing affordability of real estate in the area. May's median sales price of $108,300 was the lowest of the decade, and the average sales price of $158,780 was the decade's fourth-lowest.

Though still very reasonable by historical standards, list prices began to creep up in May. Median list price rose 1 percent from April, to $122,500, and average list price increased 1.1 percent, to $195,400.

According to a recent Bizjournals report, Phoenix's population has grown by 31.8 percent since 2000, the fourth-highest increase among all major United States metro areas.