Phoenix Home Prices Down in August

In August, Phoenix home prices fell slightly to a median listing of $475,000, with price per square foot decreasing 0.5%, less than the national 1.2% drop. Listings dropped 6.2% from July but were 35.5% higher than last year. Homes took 68 days to sell, longer than the previous month and national average of 60 days. New listings rose 5.4% from July but were down 1.6% year-over-year.