Tom Ruff’s Review of the 2022 Phoenix Real Estate Market

Tom Ruff’s written report is here.

Monthly Graphs Updated

Metro Phoenix median sold price for homes DOWN $63,000 in 7 months to $412,000, according to local MLS data. Prices down 3% from a year ago but still up 24% from 2 years ago, and up 42% from 3 years ago when the median house price was $290,000.

The median inflation-adjusted house price in metro Phoenix is back between March and April of 2021 but is still above the peak of the last bubble.

Click on the graphs to go to the full-size, interactive version.

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 real estate agent can find the data for your specific city or zip code at The Cromford Report.