Fall 2019 – No Sign of Real Estate Bubble in Phoenix Metro
A Quick Look at September Numbers
We love The Cromford Report because it is all about numbers. This chart takes all the numbers for the Metro Phoenix area and compares them to the last month, last quarter, last year and two years ago (all on the same day of the month). By comparing all these figures, it is easier to see the current trends, as well as the big picture.
Not much has really changed! Slow and steady wins the race. There is still no indication of a real estate bubble in our Phoenix Metro real estate market.
Tips to Understand the Charts
- Green arrow indicates strength in the market, relative to the numbers.
- Red arrow indicates weakness in the market, relative to the numbers.
- Yellow dash indicates no change.
Example 1: Active Listings are down from last month, last quarter, last year and two years ago. This is shown as a green arrow down.
Example 2: Pending Listings are down from last month and last quarter indicated by a red arrow down. However, the number is higher than last year and 2 years ago on same date, indicated by a green arrow up.
Example 3: Days Inventory is the same as last month but significantly lower than last quarter, last year and two years ago.
News from NAR - National Association of Realtors
- Foreign Buyer Purchases Fall to Lowest Level With Lingering Impacts into 2022
During April 2020–March 2021, the dollar volume of U.S. existing homes purchased by foreign buyers fell 27% to $54.4 billion and the number of existing homes purchased fell 31% to 107,000 units compared to the levels in the prior 12-month period.
- 2021 NAR Real Estate Forecast Summit: Global Update
Housing experts from around the world, including NAR's Chief Economist Lawrence Yun, provide various outlooks on the changing international real estate market.
- July 2021 Commercial Market Insights
Sustained job creation, more consumer spending, and the continuing return of the workforce to the office underpinned the commercial real estate market's recovery across all property sectors in the first half of 2021.
- Annual Foreign Investment in U.S. Existing-Home Sales Falls 27% to $54.4 Billion, Lowest Level in a Decade
From April 2020 through March 2021, foreign buyers purchased 107,000 properties, down 31% from the prior year, as the COVID-19 pandemic led to a strong global economic contraction and a decline in international tourist and business arrivals.