Number of Houses for Sale Up 49% in 4 Weeks!

A big part of the market is upward momentum. After prices level off for awhile and the upward momentum fades away, we'll be overpriced.

There no urgency to buy ASAP after prices have been flat for long enough.

— John Wake (@JohnWake) May 4, 2022

Did Phoenix home builders really overbuild in 2005 or were they just fulfilling 2005 demand?

"home builders hold lotteries to determine which prospective buyer standing in line for a new home will be the lucky one"
– Phoenix Business Journal – June 2005https://t.co/Sjpjqyu83j

— John Wake (@JohnWake) May 3, 2022

33 years old (red line) is the typical age of first-home buyers.

You can see the number of people of first-home buyer age has been generally increasing for about 15 years but will peak in 2 years and then fade for more than a decade.

8th or 9th inning?https://t.co/MhynVE5BAU pic.twitter.com/YSQDKsPKvW

— John Wake (@JohnWake) May 6, 2022

With all that buildable farmland and open desert in Pinal County, house prices should increase a LOT more slowly if zoning in Maricopa County is causing the high house price increases.

Zoning doesn't seem to be the cause because prices increased MORE in Pinal than in Maricopa.

— John Wake (@JohnWake) March 14, 2022

Supply Myth

U.S. Population Per Housing Unit

We probably have the fewest number of people per housing unit in American history. https://t.co/mo3yKmHpMq pic.twitter.com/lChDcplDgH

— John Wake (@JohnWake) May 3, 2022