[See all posts with title “Phoenix Real Estate Market at a Glance.”]
Video – Phoenix Real Estate Market Forecast
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 June 2012.
Phoenix Home Sales
Phoenix home sales (blue line) in June 2012 (7,807 homes sold) was the lowest number of sales for a June since 2008.
Phoenix Housing Inventory
The number of homes listed for sale in metro Phoenix (red line) in July 2012 was 16,226, which was the lowest inventory of single family homes listed for sale in metro Phoenix for any month since September 2005.
Phoenix New Listings
The number of new listings hitting the Phoenix MLS in April was only 9,271, which is very low. The sharply higher median home price in metro Phoenix hasn’t increased the number of homes hitting the market… yet.
Phoenix Home Prices
The Phoenix median home price (green line) FELL $3,000 in June to $150,500 but it’s still over $34,000 (or 30%) above August 2011 ($116,050).
“I think the median Phoenix home price could quickly pop up to $144,000+ again. If not in the second half of this year, then certainly in the first half of 2012.”
– John Wake, Arizona Real Estate Notebook, August 11, 2011
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