Supply of homes for sale in Phoenix MLS almost back to pre-pandemic levels
The number of homes for sale (all home types) in the Phoenix area MLS could surpass 2018 levels in a week or two.
Arizona Gov. Katie Hobbs vetoed bill that would have restricted local government zoning
“The bill drew opposition from the League of Arizona Cities and Towns and local officials from across the state.
Hobbs received letters from the Professional Fire Fighters Association of Arizona and the U.S. Department of Defense expressing concerns about how the proposed legislation would impact public safety.
“In addition, hundreds of Arizonans and community leaders from across the state have contacted my office about this legislation, with over 90% requesting a veto,” Hobbs said in the veto letter.” – KTAR
Arizona Home Price Increases Over Last 4 Years
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Phoenix Office Vacancy Rate is 21%!
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This surprises me because the Phoenix economy has been very strong.
Income Needed to Buy Typical Phoenix Home – 2020 and 2024
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This is a big part of the downside risk to home prices, especially if we go into a recession.
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.