John Wake analyses the Phoenix real estate market using Phoenix MLS (Multiple Listing Service) data. The metro Phoenix MLS comes out with new data each month on the number of homes sold, the median price of the homes sold, the number of unsold homes listed for sale, and the number of new listings that hit the Phoenix market each month. See all past “Phoenix Real Estate Market at a Glance” reports on a single page.
- The median home price in Metro Phoenix continued flat in January 2014. Often we see a price bump in March closings and the size of that March bump tells us a lot about how the rest of the year will go. So, we won’t really have a good idea how 2014 will play out until we have March sales data in mid-April.
- Inventory spiked seasonally in February but not by an unusually large amount.
- There is a strong multi-year trend of lower home sales as home prices increase.
Watch the video for a discussion.
Video covers data through January 2014 on the Phoenix real estate market.