Real Phoenix House Prices Only 1% Below 2006 Peak
Real metro Phoenix house prices are only 1% below the peak in 2006, at least according to the latest Case-Shiller data adjusted for inflation.
Number of Houses for Sale Could Surpass 2023 Levels by March
Prices of Smaller Homes are the Same as 2 Years Ago BUT Prices of Larger Homes are a Lot Higher
Phoenix Single-Family Homes
Median Sold Price Change – Dec 2021 - Dec 2023
1,000-2,000 Square Feet Homes = No Change in Median Price
3,000-4,000 Square Feet Homes = Median Price Up 19%
(Ignore the end of the line – January 2024 data is only partial right now.)
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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.