Next Week Could Tell Us Where the Phoenix Housing Market is Headed
Next week's data could tell us where the Phoenix market is headed.
Will the number of homes for sale in the Phoenix MLS continue increasing fast?
OR, will it start leveling off like in 2015 and 2016, and other "normal" years?
Huge Market Failure!
New home prices in Phoenix were up $125,000 (36%) from 2020 to 2023 but new home supply was the same in 2023 as in 2020!
What’s going on?
It wasn’t because builders couldn’t get building permits.
Tina’s Take on the Phoenix Housing Market
"More than half of recent sellers say they negotiated with their agent to lower the commission"
Squatters in Vacation Homes
Click on the graphs to go to the full-size, interactive versions.
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).
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.