FYI, My latest article in Forbes.com has taken off! It has over 100,000 views after just 2 days!
A Few More Houses for Sale
Seeing some signs of the number of homes for sale increasing a bit but it’s weird. The number of smaller single-family houses listed for sale in the MLS in Maricopa County is up a bit compared to last year at this time but the number of large houses for sale is way down. What’s with the large houses? Comments?
Single-Family Houses – Maricopa County
Number for Sale in MLS Now vs. Last Year at this Time
+35% – Houses 1000-2000 square feet
+37% – Houses 2000-3000 square feet
+12% – Houses 3000-4000 square feet
-8% – Houses 4000-5000 square feet
-44% – Houses 5000+ square feet
+17% – All Houses
Source: Cromford Report
It’s not that more smaller houses are hitting the market, it’s that fewer are selling. We still have a LONG way to go to get back to a “normal” number of houses for sale. See my weekly graphic at the bottom.
Also updated my Case-Shiller graphs on Real Estate Decoded. Lots of good information about the Phoenix market.
Phoenix has been the hottest market in the United States since mid-2019.
– Catherine Reagor, Arizona Republic
Your Phoenix house probably made twice as much as you did last year. Phoenix house prices went up $103,470 in 2021. The median pre-tax income in Phoenix was $52,000, at least according to Zillow.
Build-for-Rent is when an investor buys brand new single-family houses to create a community of new build rentals. Right now, it’s a hot new investment. And Phoenix is the hottest.
Click on the graph to go to the full-size, interactive version.
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.
- Phoenix Weekly Market Updates 2022
- Phoenix Weekly Market Graph (only)
- Long-term Phoenix real estate market graphs