Best single graph explaining the Phoenix real estate market

In one graph you can see the most important trends driving home prices and home sales in metro Phoenix, Arizona.

Related posts here.

New listings are big part of the story so I included them in this graph.

But what’s happening to real home prices in metro Phoenix?

Note: I update these graphs each month with data from the Arizona Regional Multiple Listing Service (MLS).

More Great Phoenix Real Estate Market Graphs