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
NAR Real Estate Forecast Summit: Consensus Forecast
on December 11, 2019 at 3:12 pm
Fourteen economic and housing market experts were asked to give their housing market forecast for 2020 and 2021.
Infographic: Top 10 Outperforming Markets
on December 11, 2019 at 3:50 am
Metro areas NAR expects home price appreciation to outpace in the next 3 to 5 years.
Top Ten Outperforming Metro Markets Report
on December 10, 2019 at 10:37 pm
The National Association of REALTORS® identified the top metro areas for the next 3-5 years based on domestic migration, housing affordability for new residents, consistent job growth relative to the national average, population age structure, attractiveness for retirees and home price appreciation, among other variables.
Expect Continued Economic Growth, Slower Real Estate Price Gains and Small Chance for Recession in 2020, According to Group of Top Economists
on December 9, 2019 at 9:32 pm
A group of top economists arrived at a consensus 2020 economic and real estate forecast at the National Association of Realtors®’ first-ever Real Estate Forecast Summit on December 11, 2019.