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Monthly market reports on Phoenix home prices and the surrounding suburbs.

 

Be an informed buyer. Learn what home prices are doing in the various areas in and around Phoenix. Review the market reports below or search for homes HERE.

 

November 2018
Despite pressure from increasing interest rates and normal end-of-year slowing, Phoenix area home prices showed strong gains in October. Although there was little consistency from area to area in terms of gains and losses, several cities, including the city of Phoenix and a handful of suburbs, showed substantial gains. The complete, latest numbers are HERE.

 

 

October 2018
Home prices in September continued the recent up and down trend of small increases and decreases month over month. Prices stepped back slightly last month after gains in the previous month. Interest rates took another large jump in the last 60 days which is finally starting to have some impact on buyer's price ranges. Demand for homes remains extremely high however and inventory remains low. The complete, latest numbers are HERE.

 

 

September 2018
After a small step back in July, home prices got back to their usual ways again last month, showing nice growth. The continued growth is encouraging to see given the fact that rising interest rates usually slow home purchasing activity down. These price increases show that demand in the Phoenix market continues to be strong as the region grows. The complete, latest numbers are HERE.

 

 

August 2018
Home prices took a small step back in July, although several cities around the Phoenix area experienced gains. Given the strength of the previous several months, it is not surprising to see a pause, and it would not be surprising for there to be an additional one this month. However all trends are still looking very favorable. The complete, latest numbers are HERE.

 

 

June 2018
The busy spring selling season wrapped up on a high note once again, showing very strong gains in pricing and the number of homes sold last month. There continues to be projections that interest rate increases could slow the rate of purchasing, but with rental rates also rising, in most cases buyers are still finding it less expensive to purchase rather than rent. The complete, latest numbers are HERE.

 

 

May 2018
The months of February, March, April and May are typically the months in which the Phoenix area home prices increase the most, and this year was no exception. April home prices jumped once again as the volume of homes sold stayed high and inventory remained low. Increasing interest rates have not yet slowed the market, and some believe that it may have accelerated it as buyers who were on the fence decided to move forward before rates increased further. The complete, latest numbers are HERE.

 

 

April 2018
Price increases in the Phoenix market came storming back last month after a brief pause in February. The volume of home sales was the highest we have seen in the past year. While there may be multiple factors for the price increases and rapid sales, the most likely reason is the rising interest rate, which is expected to still go higher in the next 12 months. The complete, latest numbers are HERE.

 

 

March 2018
Although February was a short month, home sales picked up the pace compared to January, indicating that it should be a very active spring. Although overall prices didn't increase during the month, the price per square foot did manage to climb. The complete, latest numbers are HERE.

 

 

February 2018
January produced another excellent month of housing price gains, although the total number of sales took a large dip. This is not surprising, since closings which occur in January are the result of contracts written in December which is historically slow due to the holidays. The price increase is certainly a positive indicator for the year to come. The complete, latest numbers are HERE.

 

 

January 2018
The month of December was nearly identical to November in every way, including home prices, home sales and supply of homes. Although home prices did not increase in December, the fact that they stayed level is important as typically there is a dip in prices during the holiday months. The complete, latest numbers are HERE.

 

 

December 2017
The month of November was a pleasant surprise in the Phoenix area housing market. Typically, prices and sales stay fairly flat during the holiday season, however prices jumped markedly last month. Inventory remained very low, and in fact, got even lower which was likely the driving force behind the price increase. The complete, latest numbers are HERE.

 

 

November 2017
As predicted last month, the home prices in the Phoenix area continued to bounce around, this time increasing slightly, as the end of the year approaches. In fact, very little changed in inventory, price, or number of homes sold. The complete, latest numbers are HERE.

 

 

October 2017
The home price increases in the Phoenix area paused again last month, which will likely be the trend for the remainder of the year as we enter the holiday season. The inventory still remains low, but it did ease slightly last month as home sales dipped slightly. The year over year price increases remain strong. The complete, latest numbers are HERE.

 

 

September 2017
After a 1 month slowdown in home prices in July, Phoenix area home values returned to their normal growth pattern in August. Low inventory appears to still be the driver of the price increases, especially in the resale market. The year over year price increases remain strong, but not "out of control" as we have seen in the past which is a positive indicator of continued, controlled growth for the foreseeable future. The complete, latest numbers are HERE.

 

 

August 2017
Home values in the Phoenix area paused last month from the string of consecutive months of growth, but the current shortage of homes indicates that this small price dip is seasonal versus the beginning of a trend. The growth over July of last year was substantial, and the sales numbers remained very robust for the mid summer months when sales traditionally slow a bit in Arizona. The complete, latest numbers are. HERE.

 

 

July 2017
Home values in the Phoenix area continued their healthy growth pattern last month, keeping the momentum going from a very strong spring. The bottom price bracket of the market, measured as homes less than $150,000, continued to be depleted along with total inventory in general. Although inventory is very low, it has not caused erratic, unsustainable jumps in home prices which is a a good sign that the market should continue improving for the foreseeable future. The complete, latest numbers by city are HERE.

 

 

June 2017
Home values in the Phoenix area finished off the spring on a strong note as expected. February through May are historically the strongest months and this year was no different. Although home sales were strong across all price points, the market for homes over $500,000 saw it's first improvement in a long time. The complete, latest numbers by city are. HERE.

 

 

May 2017
Home values in the Phoenix area continued to make controlled but steady gains again last month. The market continues to be favorable to sellers and the inventory of homes for $150,000 and under has shrunk to just 6% of the total market. The complete, latest numbers by city are HERE.

 

 

April 2017
The spring months are easily the best months for real estate sales in the Phoenix area, and this year is no exception. Real estate values have gone up gradually as inventory has depleted over the past 4 to 6 weeks. The complete, latest numbers by city are HERE.

 

 

February 2017
Prior to this month we had predicted that the stronger than normal holiday months at the end of 2016 would lead to a good beginning for real estate in 2017. That came to fruition, and prices experienced a nice increase. The complete, latest numbers are below. The complete, latest numbers by city are HERE.