• Phoenix Real Estate Interactive Home Price Charts – Weekly and Monthly.

Prices are Up!

Number of homes for sale (all home types) in metro Phoenix is 12% above this week last year and only 3% below this week in 2018, 6 years ago.

BUT the median single-family home sold price increased $10,000 in February, from $465,000 in January to $475,000 in February.

The median single-family sold price in January and February this year were very close to the prices 2 years ago, in 2022.

Home Prices the Same as 2 Years Ago

Zoning did NOT cause the skyrocketing Phoenix home prices in 2021

  • Investors bought more than TWICE as many homes in 2021 than they did in 2019.
  • Live-in buyers bought FEWER homes in 2021 than they did in 2019!

House Prices Relative to Income is Worse than I thought!

Median U.S. House Price/Median U.S. Household Income

In the 1990s, the median house cost ~4 years of the median household income.

In 2022, the median house cost ~6 years of the median household income.

https://fred.stlouisfed.org/graph/?g=1hB8q

Price Fixing Rents?

This story seems to be gaining momentum.

I guess if the landlords were sharing information with each other via RealPage that wasn’t publicly available, there might be a case.

Superstition Mountains a Week Ago

That was amazing because the sun was setting in the west at the exact same time the full moon was rising in the east.

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

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