In June 2023, home prices in the United States decreased by 0.83 percent compared to last year to a median price of $425,177, according to data from Redfin. While the number of homes sold has continued to decrease, with 520,504 homes sold in June this year, compared to 616,407 homes sold in June last year, the 15.8 percent decrease nonetheless marks an uptick in home sales compared to May 2023.
Here in Arizona, home prices decreased by 3.3 percent compared to last year, with a median selling price of $442,700. The number of homes sold similarly decreased by 10.5 percent, as 9,786 homes were sold in June this year, compared to 10,940 sold last year.
The full housing report can be found here.