Some housing experts are concerned about affordability as the median price for new and resale homes continues to climb. Steven Hensley, a housing analyst at Zonda, said new home values in the Valley have risen by 26% while resale values have gone up by 28% since this time last year.
“That’s really incredible home price gains and brings the question of affordability,” Hensley said. “...There are definitely concerns.”
The median price for a resale home was $425,000 and $460,000 for a new home as of mid-December numbers, Hensley said.
