
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
2w ago
Supply of Homes for Sale Already Higher than 2024 Peak Phoenix supply of homes for sale already higher than highest level last year. Now highest since 2016. If the supply for sale peaks this spring like it often does, it won’t be crazy high. But if it continues increasing fast, we could enter “crazy high ..read more
Arizona Real Estate Notebook
3w ago
It’s only 3 weeks but so far the supply of homes for sale in Phoenix is increasing a LOT faster than last year! Supply jumped and we didn’t get rid of zoning last month. Zoning is a scapegoat the real estate industrial complex blames for high home prices. Maricopa County breaks all-time record for eviction ..read more
Arizona Real Estate Notebook
1M ago
… BUT Prices Down 5% from May 2022 Phoenix home prices flat for 2+ years for typical-sized homes but prices for larger homes just set a record Phoenix home sold prices in December for the typical sized single-family home (1000-2000 square feet shown below) is flattish since Sept 2022. But for larger homes (3000-4000 square ..read more
Arizona Real Estate Notebook
2M ago
Normal, Non-Distressed Single-Family Home Sales (according to Phoenix MLS) Arizona is #2 for Increase in Supply for Sale Phoenix #2 for Housing Inflation 2019-2024 “In sum, we find that inflation evolved unevenly across major U.S. cities, mostly due to large differences in the evolution in the price of shelter.” PV Home Sold for $6,495,000 Quick ..read more
Arizona Real Estate Notebook
2M ago
Peak 2024 Supply Most likely the supply of Phoenix homes for sale this year peaked 2 weeks ago. But it’s still similar to this time of year in 2015 and 2016, “normalish” years. Home Affordability is Terrible The Supply of Building Permits is NOT the Housing Supply Problem Since new permits have been so high ..read more
Arizona Real Estate Notebook
3M ago
Real Phoenix Home Prices • Higher than in 2005• Same as 2 years ago and 3.5 years ago Normalish The number of homes we have listed for sale in the MLS in Phoenix is “normalish” although we do have more people living here than 10, 20 years ago. Not a ton of downside price risk at ..read more
Arizona Real Estate Notebook
3M ago
I was so nervous I forgot to mention ArizonaRealEstateNotebook.com! :-) Whoops! Supply of Homes for Sale Jumped Last Week! The supply of homes for sale in Phoenix just passed 2015. It should be leveling off or falling this time of year but supply resumed increasing fast. Will it continue increasing fast? Suggests 2025 could be ..read more
Arizona Real Estate Notebook
3M ago
The Good News Prices aren’t falling. The Phoenix median sold price in October was the same as in February 2022, over 2 and a half years ago = $480,000. The Not So Good News – New home builders are NOT building “missing middle” homes. Not because of zoning but because builders don’t want to. Pinal ..read more
Arizona Real Estate Notebook
4M ago
The number of homes for sale in the Phoenix MLS started leveling off last week. Supply increased fast January-April, leveled off May-July, but then jumped up again August-October. I was worried that if the supply for sale kept increasing fast, we would likely see prices fall next year. The leveling off of supply this time ..read more
Arizona Real Estate Notebook
4M ago
Next week’s data could tell us where the Phoenix market is headed. Will the number of homes for sale in the Phoenix MLS continue increasing fast? OR, will it start leveling off like in 2015 and 2016, and other “normal” years? Huge Market Failure! New home prices in Phoenix were up $125,000 (36%) from 2020 ..read more