The housing industry is starting to boom again. The latest reports show that sales of existing homes rose to their highest level in eight years, and the median price for an existing home sold in June rose to $236,400 -- the highest ever recorded by the National Association of Realtors -- and surpassing the July 2006 peak.
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The current market portends a promising future for growth of Phoenix. We have survived one of the worst real estate recessions of all times, and now we are moving into time of expansion for housing. In a state that sees sunlight 85 percent of the year, the future of Metro Phoenix's housing market is just as bright!