Phoenix Market – Factoids
The video at the top of this Wall Street Journal article is in McCormick Ranch, Scottsdale! Just a few blocks from my house!
Homes are so expensive in Canada, parents often have to help their kids buy. Are we headed there?
Wire fraud is still common in real estate. At a recent real estate industry meeting, 2 escrow officers said their companies have seen 3+ wire frauds lately, 1 was for $900,000. Be SUPER careful when buying a house.
“I think Phoenix is a market that is ripe for correction.” – Ivy Zelman
But I heard when house prices increase that builders build more!
“New housing permit data from http://rlbrownreports.com shows single family building permits for the first two months of 2022 in Greater Phoenix are flat compared the same period last year.” Elliot D. Pollack & Company
Click Tweet to see this thread on zoning and house prices.
Metro Phoenix – Sold in Last 30 Days
Of houses listed for sale from $1.5M – $2.0M, half of the sales sold above list price.
Of those that sold above list price, the median amount the sale price was above the list price = $100,000.
Source: Cromford Report
Phoenix rents were flat since August!
Click on the graphs 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.