Reagor: Home prices, sales inch up

A look at the latest data for metro Phoenix's housing market shows home prices continue their slow recovery. The median price for an existing home in the region inched up to $122,500 in February from $121,500 in January, according to the real-estate firm AZBidder LLC of Phoenix. That increase may not seem like a big deal, but it's the highest median home price for the area since mid-2010. Last August, the region's median price fell to a 12-year low of $112,000 but has been steadily rising since then. AZbidder, an online foreclosure-auction firm, is now providing other housing data. The firm recruited data guru Tom Ruff to become its managing director and oversee its expanded data analysis called the "Ruff Report." Ruff retains a stake in the firm he helped launch, the Information Market, which sells data to The Republic and azcentral.com for its Valley Home Values report.

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