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New Home Sales Super Strong in Phoenix

 Especially Relative to Normal MLS Sales Which are WAY Down Wow! I knew new home sales were strong in Phoenix but didn’t really realize how strong until I saw this. For every 2 normal single-family homes sold in 2023 via the Phoenix MLS, there was 1 brand new single-family home sold, according to this data…

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More Phoenix Homes for Sale Than in 2018!

 The number of homes for sale in metro Phoenix continues to drift higher at a time of year when it usually drifts lower. Homes for sale are now higher than at this time in 2018. “Hobbs said the program should help around 500 families.” ‘Arizona is Home’ program officially underway – 13News Tucson The state…

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Phoenix Real, Inflation-Adjusted Home Prices Same as Spring 2021 – Nearly 3 Years Ago

 And 8% above the peak in 2005. And nearly double the price in 2000. Phoenix Real Estate Market – Feb 2024 Supply Still Increasing in High Season! The number of single-family homes for sale in metro Phoenix is still increasing a bit, at a time of year it’s usually flat or falling. HUGE difference from last year when the number of houses for sale was falling quite a bit each week. Click on the graphs to go to the full-size, interactive versions. Notice how very small changes in New Listings and Solds eventually cause HUGE changes in the number of houses For Sale and house Prices (see graph above). This information can vary a lot in different parts of metro Phoenix. Your…

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More Single-Family Homes for Sale than Last Year at This Time

 Inflection Point It takes a really strong force to get the number of homes for sale to increase at a time of year when they usually decrease. Conclusion. Prices may NOT increase this spring. Total number of homes for sale (all home types) could match 2018 by the end of March Phoenix Real Estate at a Glance “Who is missing from AirDNA’s list of the ‘best places to invest in short-term rentals’ is telling” No Arizona cities made this list. Is Arizona a “saturated” market for short-term rentals? Flat Rents in Phoenix? Only 9 of 50 metros had smaller rent increases than Phoenix last year, according to Zillow. Click on…

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We May Have Seen an Inflection Point in the Phoenix Real Estate Market Last Week

 Inflection Point? We could have seen an inflection point in the market last week. At a time of year when the number of single-family houses for sale is usually flat or falling, the number INCREASED a lot last week. Especially in luxury areas like Paradise Valley… and Scottsdale! An underlying trend is especially strong if it can overpower the seasonal trends. It might just be a one-week fluke but if this counter-seasonality trend continues next week, that means the market will very likely be very different this spring compared to last spring. Investors Still Buying 22% of Phoenix Homes! From Redfin. Phoenix Market Delicately Balanced on a Highwire But it’s tough…

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