Arizona Real Estate Notebook
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The blog shares Independent analysis of the Phoenix, Arizona real estate market.
John Wake a Real Estate Agent, Associate Broker and Realtor helps U.S. home buyers and sellers learn how real estate really works so they can be prepared before they buy or sell a home.
Arizona Real Estate Notebook
1w ago
It could be a fluke but we saw a big jump in the months of supply over the last 2 weeks, from 2.0 months of supply to 2.7 months of supply ..read more
Arizona Real Estate Notebook
2w ago
Last month in metro Phoenix we had the fewest number of single-family homes sold in a June since the Great Recession, June 2007 ..read more
Arizona Real Estate Notebook
1M ago
On an average sold price per square foot, it looks like April could be the peak of this cycle, at least in nominal dollars. In real, inflation-adjusted dollars, May 2022 will likely be the peak, 6% higher than last April. If April is the price peak this year, that’s a sign of a soft market ..read more
Arizona Real Estate Notebook
1M ago
The number of homes listed for sale in the Phoenix MLS is NOT increasing anymore. That’s a good sign for price stability. BUT, will the seasonal upturn in inventory this autumn start early and be unseasonably large? Seems likely given the trend over the first half of the year. We’ll have to wait and see ..read more
Arizona Real Estate Notebook
1M ago
Phoenix median single-family home sold price in May 2024 = $490,000 Median price is likely to be flat or falling the rest of 2024. 76 Secrets Last year I realized I was getting old and needed to come to some conclusions after studying the U.S. real estate market for over 20 years. The result is “76 ..read more
Arizona Real Estate Notebook
2M ago
Number of homes for sale in Phoenix MLS should be back to 2017 levels by the end of June Will we be back to 2016 levels by the end of the summer? Probably. Since homes-for-sale increased this spring when it usually falls, it’s reasonable to expect more increases this summer when it’s usually flat. Axios ..read more
Arizona Real Estate Notebook
2M ago
But the number of Phoenix single-family homes for sale in the MLS is up 44% from a year ago. Can we say the number of houses listed for sale in the Phoenix MLS is skyrocketing? Up 2.6% in 2 weeks (at a time of year it usually falls). Might have been an inflection point 2 ..read more
Arizona Real Estate Notebook
2M ago
The number of homes for sale is at the low end of the "normal" range. BUT seeing inventory increase this time of year is very abnormal ..read more
Arizona Real Estate Notebook
3M ago
Especially Relative to Normal MLS Sales Which are WAY Down Wow! I knew new home sales were strong in Phoenix but didn’t really realize how strong until I saw this. For every 2 normal single-family homes sold in 2023 via the Phoenix MLS, there was 1 brand new single-family home sold, according to this data ..read more
Arizona Real Estate Notebook
3M ago
Red Line = Single-Family Detached Homes Listed for Sale in the Metro Phoenix MLS Real Home Prices 9% Higher than 2005 Top Free-and-Clear Home Owners • In Maricopa County, 32.1% of home owners have no mortgage. • The national rate is 38.5%. Source: ResiClub Phoenix is #1 for Landlords Buying Brand New Homes Source: ResiClub Click on ..read more