The number of metro Phoenix homes listed for sale is still not responding to the 42% price increase over the last 18 months!
The number of new listings was about the same number this January as last January even though the median home price in metro Phoenix was 28% higher this January compared to last.
It’s nuts! But it’s a cool economic puzzle to be solved!
See last month’s post for why I think the Phoenix median home price will increase strongly again this spring.
NOTE: If you stumble upon this post in the future please keep in mind that even though the chart may be up-to-date that the text here was written in February 2013.