Don’t get confused when you hear news stories about the U.S. real estate market or home prices in another city. All that matters is what’s happening here at home in the metro Phoenix real estate market.
Play with the interactive graph a bit and you’ll quickly see that what happens to home prices in other cities is meaningless for us.
It’s Only Natural
When you hear bad news about home prices in Detroit or Cleveland you immediately think, “Well, that certainly doesn’t apply to my home in Phoenix!” and you’re right.
But when you hear the “good” news about home prices in San Francisco or Los Angeles you naturally think, “Well, that probably means my home’s value is increasing here in Phoenix too” and you would be wrong.
I know. You’re an optimist. But being optimistic and thinking your home’s value is increasing when it’s not can lead to VERY expensive mistakes when you’re selling your house.
Knowledge is power. Know the market. Be powerful.
I added this graph to the “Market Graphs” page so you can easily find the graph
again in the future.
What do you think? Leave a comment below.