Phoenix's median home price continues to rise

TEMPE, AZ - A new report by real state researchers at Arizona State University says the median home price in metro Phoenix during October increased by 34 percent when compared to the same period a year before.

The report by the university's W.P. Carey School of Business says the median home price stood at $157,000 in October.

The median home price for October 2011 was $116,000.

The researchers also said the supply of homes and condos in metro Phoenix increased 31 percent over the past three months.

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