Phoenix median single-family home sold price in May 2024 = $490,000
- Up 5% from 1 year ago (May 2023, blue line)
- Down 5% from 2 years ago (May 2022, green line)
- Price the same as in March 2022, over 2 years ago.
Median price is likely to be flat or falling the rest of 2024.
76 Secrets
Last year I realized I was getting old and needed to come to some conclusions after studying the U.S. real estate market for over 20 years. The result is “76 Secrets – U.S. Home Ownership – 3 Solutions” which I’m spooning out each week.
You can follow my 76 Secrets on:
- Substack – Real Estate Decoded (& email newsletter)
- Blog – Real Estate Decoded (my national-focused blog)
In Phoenix, Real Mortgage Payment Price is similar to the top in 2006
Latest Case-Shiller data.
Phoenix Investor Home Ownership
ResiClub pulled directly from the Parcl Labs API, to find the major metro area housing markets where investors own the highest share of housing stock.
Interactive New Home Construction Map from AEI
Housing Availability in America’s Largest Metro Areas
How Census defines “vacancies” is a bit of a rabbit hole.
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 real estate agent can find the data for your specific city or zip code at The Cromford Report.