West Valley zip codes losing upward momentum on median home prices
This could just be seasonal because median sold prices tend to bottom out around January BUT several West Valley zip codes that were showing definite upward trends in median home prices seem to have lost momentum and may have lost some ground.
March is the most important month of the year for home sales. March often gives us a feel for how the rest of the year will play out. If sales and price data are strong in those West Valley zip codes in March, than the January-February slides were just seasonal anomalies.
If the March numbers for those zip codes continue to be weak, that would be big news. That would be an unexpected change in trend and I don’t know what it would mean.
Video Comments – Phoenix median home prices by zip code through February 2010
All 124 zip code real estate charts available in the right-hand column have now been updated through FEBRUARY 2010 with the number of home sales, the median home price and the median home price per square foot.