Supply Increasing Abnormally Right Now & Opendoor’s Role in 2022’s Falling Prices
The number of homes for sale is at the low end of the “normal” range. BUT seeing inventory increase this time of year is very abnormal.Read more
New Home Sales Super Strong in Phoenix
Especially Relative to Normal MLS Sales Which are WAY Down Wow! I knew new home sales were strong in Phoenix but didn’t really realize how strong until I saw this. For every 2 normal single-family homes sold in 2023 via the Phoenix MLS, there was 1 brand new single-family home sold, according to this data…Read more
Same Number of Homes for Sale in Phoenix as in 2000, 2013 and 2018
Red Line = Single-Family Detached Homes Listed for Sale in the Metro Phoenix MLS Real Home Prices 9% Higher than 2005 Top Free-and-Clear Home Owners • In Maricopa County, 32.1% of home owners have no mortgage. • The national rate is 38.5%. Source: ResiClub Phoenix is #1 for Landlords Buying Brand New Homes Source: ResiClub Click on…Read more
More Phoenix Homes for Sale Than in 2018!
The number of homes for sale in metro Phoenix continues to drift higher at a time of year when it usually drifts lower. Homes for sale are now higher than at this time in 2018. “Hobbs said the program should help around 500 families.” ‘Arizona is Home’ program officially underway – 13News Tucson The state…Read more
$481,000 = Median Phoenix Home Price But…
$481,000 = Median Price of Single-Family Homes Sold in March in Metro Phoenix. 1 Month = Up $6,000 or 1%. 1 Year = Up $32,000 or 7%. 2 Years = Down $9,000 or 2%.Read more
Supply of homes for sale in Phoenix MLS almost back to pre-pandemic levels
The number of homes for sale (all home types) in the Phoenix area MLS could surpass 2018 levels in a week or two. Arizona Gov. Katie Hobbs vetoed bill that would have restricted local government zoning “The bill drew opposition from the League of Arizona Cities and Towns and local officials from across the state.…Read more
Phoenix Real, Inflation-Adjusted Home Prices Same as Spring 2021 – Nearly 3 Years Ago
And 8% above the peak in 2005. And nearly double the price in 2000. Phoenix Real Estate Market – Feb 2024 Supply Still Increasing in High Season! The number of single-family homes for sale in metro Phoenix is still increasing a bit, at a time of year it’s usually flat or falling. HUGE difference from last year when the number of houses for sale was falling quite a bit each week. 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…Read more
It’s the high season in Phoenix but the number of single-family houses for sale isn’t falling… yet
$10,000 First-Home Buyer Tax Credit? In his State of the Union speech, President Biden pitched the idea of a $10,000 first-home buyer tax credit. That gives me deja vu. Do falling house prices create tax credits? Just Updated My Fed Housing Charts on RealEstateDecoded.com The page is a GREAT way to see what’s really happening…Read more
Number of Homes for Sale in Phoenix Continues Increasing But…
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…Read more
More Single-Family Homes for Sale than Last Year at This Time
Inflection Point It takes a really strong force to get the number of homes for sale to increase at a time of year when they usually decrease. Conclusion. Prices may NOT increase this spring. Total number of homes for sale (all home types) could match 2018 by the end of March Phoenix Real Estate at a Glance “Who is missing from AirDNA’s list of the ‘best places to invest in short-term rentals’ is telling” No Arizona cities made this list. Is Arizona a “saturated” market for short-term rentals? Flat Rents in Phoenix? Only 9 of 50 metros had smaller rent increases than Phoenix last year, according to Zillow. Click on…Read more