Phoenix House Prices Same as 2 Years Ago
I’m Back!
Been busy with family stuff over the holidays. I LOVE doing this newsletter but priorities.
Phoenix House Prices Same as 2 Years Ago
Metro Phoenix single-family, non-distressed median sold price was $460,000 in December. In December 2021, it was $458,000. All upward price momentum is long gone.
The Leading Economic Indicators Say…
Watch the Whole Thing!
GREAT explainer of where the leading economic indicators are today. Great graphics, too!
Will Commercial Real Estate Lead the Way Down This Time?
The office vacancy rates in this video shocked me.
Could the coming housing market correction/bust be more like the S&L Bust in the late 1980s and early 1990s? That was led by distress in commercial and multifamily real estate, not in single-family houses. Single-family was more of a contagion market.
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.