The Unexpected Housing Crisis
July – Single-Family Detached Houses. Highest median sold price ever. Highest number of houses sold ever.Read more
Phoenix Market Still Crazy Tight
Number of single-family houses hitting the market is now a bit higher than last year. But sales are still high. So, the number of houses listed for sale hasn’t started to increase yet from crazy low levels.Read more
Phase 3 of the COVID-19 Real Estate Market – The Peak
For 2 months (March-April), the market tanked. • For 2 months (May-June), the market soared. • For July, the market peaked and stopped getting crazier but it’s still way crazy tight.Read more
It’s Official. June was Crazy. Prices Up 3%-6% in 1 Month
• Monthly Graph – Now has June data.• Weekly Graph – We now show changes from 2019. Let’s look at the new June stats first and then look at the weekly data. Phoenix Real Estate From May to June, the median price of all homes sold in metro Phoenix went up 3% from $295,000 to…Read more
Past Peak Frenzy? – Phoenix COVID Real Estate Market Update
The Phoenix real estate market is still crazy, insanely tight but it looks like it finally stopped getting worse. We’re probably past Peak Real Estate Frenzy.Read more
Demand Now Back to Normal but Not Supply – Phoenix Real Estate Update
Demand got hit harder than supply in April and May but demand returned to 2019 levels in June. Supply fell less but only rebounded halfway back to 2019 levels in June.Read more
Are We at Peak Frenzy? Phoenix Housing Market Weekly Update
The number of houses under contract to buyers in Phoenix was kinda flat last week for the first time in 2 months. The market frenzy MIGHT be peaking.Read more
Things Could Get Weird – Phoenix Housing Market Weekly Update
“Unless more houses start hitting the market, things are gonna get weird.” The Phoenix MLS updated their stats for May so let’s look at those first and then look at the weekly data. Phoenix Real Estate At 6%, we still had good house price appreciation from May 2019 to May 2020 but it’s down a…Read more
Still Crazy – Phoenix COVID Real Estate Market Update
No change in trends the last 6 weeks. I know this sounds crazy but the Phoenix residential real estate market is hot and getting hotter. The months of supply of homes for sale in metro Phoenix hasn’t been this low since 2004 and 2005.Read more
A Perfect Counter-Storm – Phoenix Real Estate Market COVID-19 Weekly Update
The Phoenix residential real estate market is hot despite COVID-19 because a surprisingly low number of people are putting their houses up for sale, and crazy low mortgage rates are increasing demand.Read more