Best single graph of Phoenix real estate

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

Related posts here.

Mouse-over the green line to see details.

With Phoenix New Listings

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

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Inflation-Adjusted Phoenix Home Prices

NEW – Months Supply of Phoenix Homes for Sale

Months Supply = Number of homes (single-family detached) listed for sale in the MLS in the middle of the month divided by the number of homes (SFD) sold in that month.

Months Supply &
Median Price of Homes Sold

Months Supply &
Homes for Sale

NEW – Sales to New Listings Ratio

This is a common metric in Canada and Australia (called “Sales to New Listings”) but we don’t use it much or at all in the U.S. We focus on Months Supply (above) instead.

  • Months Supply = Number of homes (SFD) sold via the MLS that month / Total number of homes (SFD) listed for sale on the MLS that month.
  • Sales to New Listings Ratio = Number of homes (SFD & condos) sold via the MLS (last 3 months) / Number of homes (all) NEWLY listed for sale on the MLS (last 3 months). Shown as a percentage.

Both metrics move together as you’ll see below but “Sales to New Listings Ratio” sometimes moves before “Months Supply” which sometimes makes it a better leading indicator.

Sales to New Listings Ratio &
Median Price of Homes Sold

Sales to New Listings Ratio &
Homes for Sale

Sales to New Listings Ratio &
Months Supply


Note: I update all these graphs each month with data from the Arizona Regional Multiple Listing Service which is the Phoenix area MLS.

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