Phoenix Real Estate Market Update – Februrary 2020

February finds that the Greater Phoenix “for sale” inventory remains at historical lows.In fact, “for sale” homes have not been this low since 2001. As of February 1, GreaterPhoenix inventory stands at 11,974, down 35.1% year over year. Our monthly mediansales price...

Phoenix Real Estate Market Update – January 2020

Resale home inventory in Greater Phoenix has been shrinking for many months now. Activelistings stand at 12,141, down 30% year over year. January’s median sales price stands at$289,500, up 11.1% year over year. Given our falling inventory, home prices are expected...

Phoenix Real Estate Market Update – December 2019

In December the greater Phoenix real estate market remains “available inventory challenged,” and active listings for the month are down 25.3% year over year, at 13,869. The low level of available units is driving higher prices, and in the case of lower-priced homes,...

Phoenix Real Estate Market Update – November 2019

For November, the Greater Phoenix residential real estate inventory continues its downward trend, with current active listings standing at 14,525, down 19.1% year over year. Correspondingly, the median sales price continues to rise, up 8.8% year over year, and is at...

Phoenix Real Estate Market Update – October 2019

For October, the Greater Phoenix residential real estate median sales price continues to rise. However, a closer examination shows that this rise is largely attributable to the continuing shift in available inventory from lower priced to luxury homes. While available...

Phoenix Real Estate Market Update – September 2019

The inventory shortage swings into September, and active listings are down about 16% year over year. As the very low inventory in greater Phoenix continues, prices are up accordingly, rising 6.9% year over year to a median price of $280,000. Low interest rates are...
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