Phoenix Median House Price in January ($444,000) is Down 5% ($23,000) from Last January ($467,000)
On my other website, Real Estate Decoded, I updated all the Case-Shiller Home Price data AND improved the look of one graph. You can now make any month red which makes it stand out. It’s a LOT easier to see the seasonality. November is the latest data for Case-Shiller and all Novembers are red in the graph below.
The next few months will be totally fascinating!
But the Real Mortgage Payment Price is still crazy high so I expect prices to be a lot lower a year from now.
The Zillow Zestimate on my house is already down $125,000 since May. How about yours?
Zestimates are ballpark estimates but still.
If you want to get a feel for how ballpark these online estimates are, look at how huge the Zestimate Range is and also check out estimates from…
… and see how much they vary.
Click on the graphs to go to the full-size, interactive version.
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.
Phoenix Weekly Market Graph (only)
Analysts, etc. always seem to post about Month over Month or Year over Year? Why does Year over Year matter? A $40K drop Feb 23 to Feb 22 isn't the story. The $75K drop from the peak until now is.