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!
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
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.
- Phoenix Weekly Market Updates 2022
- Phoenix Weekly Market Graph (only)
- Long-term Phoenix real estate market graphs