Data showed that it’s not there yet, but supply and demand are starting to get closer.

PHOENIX — Housing prices hit unprecedented levels this spring as increasing demand coupled with low supply, creating a market frenzy.

Potential properties were getting dozens of offers. Homes were getting $25,000 or more over the list price. 

“Where 20 to 25 offers on a house was just normal happenstance. Since then, it has slowed a little bit,” Trevor Halpern, founder of the Halpern Residential Group said. “Typically we are seeing two, three, four offers on a place, which is still a lot and is still very competitive.”

Halpern said there has been a recent increase in supply, while some…

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