Phoenix Single-Family House Sales DOWN 45% From a Year Ago

• Interactive Charts - Weekly and Monthly

  

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iBuyer Crash

Lance Lambert @NewsLambert

iBuyers hold close to $1 billion in homes… in Phoenix alone.

Jason Lewris @jasonlewris

Here's what we know about top iBuyers in Phoenix... They hold close to $1B in homes right now If they sold their active inventory today, they would lock in ~$100m in losses They are slashing prices by 2% every ~14 days Demand has dried up at current rates This could get ugly https://t.co/2ixDr4YJno

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John Wake @JohnWake

"These bubbly housing markets look like busts—and they just sank Redfin’s flipping business" fortune.com/2022/11/10/pan…

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Now For Some Good News!

I know it’s not like me to be Mr. Brightside but…

John Wake @JohnWake

Chip-making powerhouse eyes second multibillion-dollar expansion in the Valley

abc15.comChip-making powerhouse eyes second multibillion-dollar expansion in the ValleyA chip-making powerhouse is eyeing a second multibillion-dollar expansion right here in the Valley.

John Wake @JohnWake

ARIZONA COMMERCE AUTHORITY ANNOUNCES NEW PROCTER & GAMBLE MANUFACTURING FACILITY TO BE BUILT IN COOLIDGE

azcommerce.comArizona Commerce Authority Announces New Procter & Gamble Manufacturing Facility To Be Built In CoolidgeThe Arizona Commerce Authority (ACA) is the state’s leading economic development organization with a streamlined mission to grow and strengthen Arizona’s economy.

John Wake @JohnWake

Construction is 6.3% of employment in Phoenix. In 2006, it was 9.6% of employment. A housing recession won't bring down the metro Phoenix economy as much as last time. The Great Recession hit Phoenix HARD and construction employment was a big reason why. fred.stlouisfed.org/graph/?g=WniP

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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.

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