Median Price of Single-Family Houses Sold in Phoenix FELL $40,000 from Feb 2022 to Feb 2023

After increasing $100,000 from Feb 2021 to Feb 2022

• Interactive Charts - Weekly and Monthly

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Cool podcast – How houses get built in Arizona. Difference between developers and builders.

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Twitter+

John Wake @JohnWake

The Fed Mandate is, "maximum employment and price stability." The Fed clearly does NOT include HOUSE price stability as part of their price stability mandate. Now, the Fed destabilizes house prices with their QE,

FULL THREAD. The Fed Mandate is, "maximum employment and price stability." The Fed clearly does NOT include HOUSE price stability as part of their price stability mandate.

Now, the Fed destabilizes house prices with their QE, buying mortgage-backed securities when house prices are increasing which makes prices increase even more, and reducing holdings of MBS when prices are falling which makes prices fall even more.

If the Fed mandate included stable house prices, the Fed would do the EXACT opposite.

The Fed intentionally destabilizes house prices.

They like the wealth effect higher house prices have on spending and employment.

The Fed is happy to destabilize house prices and household wealth because they put the maximize employment mandate above the stable prices mandate.

- John Wake (@JohnWake on Twitter)

Arizona League @AzCities

"SB1117 will destroy @ParadiseVallAZ, along with most Arizona neighborhoods. None of the provisions have anything to do with #affordablehousing, but the bill bypasses all municipal zoning review & approvals and shuts out public comment."

yourvalley.netPace: Proposed bill could eliminate town’s 1 home per acre zoningThe By-Right Zoning bill is back and worse than ever. Last year many of us wrote about and worked hard to educate all residents and communities about the dangers and destruction of by-right zoning …

John Wake @JohnWake

From "Keep Sedona Beautiful."

keepsedonabeautiful.orgPlease Voice Your Opposition to SB 1117

John Wake @JohnWake

"Mortgage rates pass 7% again putting pressure on home prices to fall further as consumer expectations weaken."

Taylor Marr @TaylorAMarr

Taylor Marr’s Newsletter: Economic & Housing Update Mar 3, 2023 https://t.co/uCYNw0xhC5

John Wake @JohnWake

Notice how low foreclosures were at the top of the market in 2005. Fast rising prices hid the underlying weaknesses in many mortgages. Mortgage aren't as bad now but don't think low foreclosures today mean foreclosures will be as low tomorrow. attomdata.com/news/company-n…

John Wake @JohnWake

First time ever more "Built-for-Rent" Units started Quarterly than "Built-for-Sale"

open.substack.comFirst time ever more “Built-for-Rent” Units started Quarterly than “Built-for-Sale”Quarterly Housing Starts and Completions by Purpose and Design

John Wake @JohnWake

"Irvine’s short-term rental ordinance led to a 2.7% decline in contracted long-term rental prices"

fortune.comThe housing crisis’s Hamlet moment: to Airbnb or not to Airbnb?The famous “Airbnb effect” on housing affordability: That is the question taken up by a Shakespearean research paper.

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Click on the graphs to go to the full-size, interactive version.

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Notice how very small changes in New Listings and Solds eventually cause HUGE changes in the number of houses For Sale and house Prices (see graph above).

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This information can vary a lot in different parts of metro Phoenix. Your real estate agent can find the data for your specific city or zip code at The Cromford Report.

• Phoenix Weekly Market Updates 2023

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