KCM and DPR Realty September 2022 National and Local AZ Housing Market Update, Shambreskis & Howard

Page 1

September 2022 DPR Realty


Mortgage Rate Projections


Mortgage Rates Freddie Mac 30-Year Fixed Rate, January 2022 to Today 5.78 5.81

5.70

5.66 5.55

5.51 5.54 5.27 5.30 5.25 5.11 5.10 5.00

4.67

5.23

5.30

5.30

5.22

5.10 5.09

5.13

4.99

4.72

4.42 4.16 3.92 3.89 3.69

3.76

3.85

3.56 3.55 3.55 3.45 3.22

1/6 1/13 1/20 1/27 2/3 2/10 2/17 2/24 3/3 3/10 3/17 3/24 3/31 4/7 4/14 4/21 4/28 5/5 5/12 5/19 5/26 6/2 6/9 6/16 6/23 6/23 7/7 7/14 7/21 7/28 8/4 8/11 8/18 8/25 9/1

Source: Freddie Mac


Mortgage Rate Projections August 2022

Quarter

Freddie Mac

Fannie Mae

MBA

NAR

Average of All Four

2022 Q4

5.4

4.8

5.2

6.0

5.4%

2023 Q1

5.2

4.7

5.1

6.0

5.3%

2023 Q2

5.2

4.5

5.0

6.0

5.2%

2023 Q3

5.0

4.4

4.9

-

4.8%


After the end-of-summer lull, and as mortgage rates stabilize, we may see a return of buyers and a relatively strong fall housing market.

- Lisa Sturtevant, Housing Economist


Home Price Appreciation


I don’t think national housing prices will decline in a meaningful way . . . but there will be some price declines across the country. - Mark Zandi, Chief Economist, Moody’s Analytics


Appreciation Slowing, Not Depreciating % Year-Over-Year Home Price Increases for 2022 25 20

19.1

20

20.9

20

20.2

18.3 15.8

15 10 5 0 -5

January

February

March

April

May

June

July

Depreciation Source: CoreLogic


Annual home price growth slowed for the third consecutive month in July but remained elevated at 15.8%. As 30-year, fixed-rate mortgages neared 6% this summer, some prospective homebuyers pulled back, helping ease overheated and unsustainable price growth. . . . Looking ahead, CoreLogic expects to see a more balanced housing market, with year-over-year appreciation slowing to 3.8% by July 2023. - CoreLogic, Latest Home Price Insights Report


Many Experts Raise Home Price Forecasts January Forecasts for 2022 Home Price Appreciation Compared to the Latest Forecasts January 2022 Appreciation Forecast

Latest 2022 Appreciation Forecast

Fannie Mae

7.6%

16.0%

Freddie Mac

6.2%

12.8%

NAR

5.1%

11.5%

Zelman

3.0%

10.0%

MBA

5.1%

9.9%

HPES

6.3%

9.3%

Source


Home Price Forecasts for 2022 16.0% 12.8% 11.5%

11.3%

Average of Fannie Mae All 7 Forecasts

Freddie Mac

NAR

10.0%

9.9%

Zelman

MBA

9.6%

CoreLogic

9.3%

HPES


Inventory Is Still Historically Low Week Ending September 2nd 30.0%

26.3%

20.0%

10.0%

0.0%

-5.4%

-10.0%

-20.0%

-30.0%

-40.0%

-42.2%

-50.0%

Same Week in 2021

Same Week in 2020

Same Week in 2019 Source: Calculated Risk


Affordability


Affordability at Historically Low Level Housing Affordability Index, 1990 to Today 197 197

200

186

190 180

169

170

172

176 164 166

170

167 158

160

160 154

150 140

131

130

122

120 110

108 110

128

125 126 127

138

133 131 122

128 126

131 124 113

115 108

98.5 98.5

100 90 80 70 60 50

Years when distressed properties dominated the market 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Today

Source: NAR


Compared to one year ago, the monthly mortgage payment rose to $1,944 from $1,265, an increase of 53.7%.

- NAR


Monthly Mortgage Payments Increasing Monthly Mortgage Payments $1,944

$1,265 $1,020

Apr May Jun Jul Aug Sept Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sept Oct Nov Dec Jan Feb Mar Apr May June 2020 2021 2022

Source: NAR


Mortgage Payment to Income Ratio (2000-2021) Assumes a 30-Year Fixed Rate Mortgage with a 20% Down Payment on a Median-Priced Home with a Median Income (P&I payment to income) 30

July 2006

25

25.4% Today

24.7%

25% 18.1%

20

June 2018

19.6%

15

Jan 2000

10

11.6%

Jan 2013

5

0 Source: NAR


Median Household Income vs. Qualifying Income Median Income in 1st Column Qualifying Income in 2nd Column $104,351 $91,952

$141,552

$102,000

$93,312

$98,498 $90,650

$84,114

$84,672

$68,496

U.S.

Northeast

Midwest

South

West Source: NAR


Three Things Buyers Can Do Today

1. Expand search area and criteria 2. Explore alternative financing options 3. Look for grants, gift funds, etc. downpaymentresource.com


We are in a place where strategy discussions and planning are critically important to make sure we can thrive during these challenging times. Stay nimble, stay informed, and remember: Housing is traditionally one of the first sectors to slow as the economy shifts but is also one of the first to rebound.

- Ali Wolf, Chief Economist, Zonda


Fall Buyer & Seller Guides: Now Available


Resources Slide(s)

Description

Link(s)

3

Mortgage Rates Graph

https://freddiemac.gcs-web.com/node/25841/pdf http://www.freddiemac.com/pmms/

4

Mortgage Rate Projections

https://www.freddiemac.com/research/forecast/20220720quarterly-forecast-market-slowdown-will-continue-highrates-and-prices-exacerbate https://www.fanniemae.com/media/44466/display https://www.mba.org/docs/default-source/research-andforecasts/forecasts/mortgage-finance-forecast-aug2022.pdf https://cdn.nar.realtor/sites/default/files/documents/forecastq3-2022-us-economic-outlook-07-27-2022.pdf

5

Sturtevant Quote

https://www.linkedin.com/feed/update/urn:li:activity:6971118 504129257476/

7

Zandi Quote

https://www.housingwire.com/articles/the-nations-housingmarket-is-on-a-correction-course/

8, 9

Appreciation Graph & CoreLogic Quote

https://www.corelogic.com/intelligence/u-s-home-priceinsights-september-2022/


Resources Slide(s)

10

11

Description

Link(s)

Experts Raise Home Price Forecasts

https://www.fanniemae.com/research-andinsights/forecast/forecast-monthly-archive https://www.freddiemac.com/research/forecast?page=0 https://www.nar.realtor/research-and-statistics https://zelmanandassociates.com (subscription necessary) https://pulsenomics.com/surveys/#home-price-expectations https://www.mba.org/news-and-research/forecasts-andcommentary/mortgage-finance-forecast-archives

Price Forecasts Graph

https://www.fanniemae.com/media/44461/display https://www.freddiemac.com/research/forecast/20220720quarterly-forecast-market-slowdown-will-continue-highrates-and-prices-exacerbate https://cdn.nar.realtor/sites/default/files/documents/forecastq3-2022-us-economic-outlook-07-27-2022.pdf https://www.corelogic.com/intelligence/findstories/corelogic-hpi-posted-record-year-over-year-growthin-2021/ https://pulsenomics.com/surveys/#home-price-expectations https://www.zelmanassociates.com/ (subscription required) https://www.mba.org/docs/default-source/research-andforecasts/forecasts/mortgage-finance-forecast-aug2022.pdf


Resources Slide(s)

Description

Link(s)

12

Inventory Graph

https://www.calculatedriskblog.com/2022/09/housingseptember-5th-update-inventory.html

Affordability Graph

https://www.nar.realtor/blogs/economists-outlook/housingaffordability-conditions-fade-as-mortgage-rates-pushmonthly-payments-higher-in-june-2022

NAR Quote

https://www.nar.realtor/blogs/economists-outlook/housingaffordability-conditions-fade-as-mortgage-rates-pushmonthly-payments-higher-in-june-2022

16

Mortgage Payments Graph

https://www.nar.realtor/blogs/economists-outlook/housingaffordability-conditions-fade-as-mortgage-rates-pushmonthly-payments-higher-in-june-2022 https://cdn.nar.realtor/sites/default/files/documents/hai-062022-housing-affordability-index-2022-08-11.pdf

17, 18

Payment to Income Graphs

https://www.nar.realtor/blogs/economists-outlook/housingaffordability-conditions-fade-as-mortgage-rates-pushmonthly-payments-higher-in-june-2022

20

Wolf Quote

https://www.builderonline.com/data-analysis/single-familyhousing-demand-will-remain-solid-for-the-next-decade_o?

14 15


Updates


Resources Slide(s)

Description

Link(s)

29

Confidence Index

https://www.nar.realtor/research-and-statistics/researchreports/realtors-confidence-index

30-32, 40, 42, 43, Existing Home Sales 50-54

https://www.nar.realtor/topics/existing-home-sales

33-36

New Home Sales

http://www.census.gov/construction/nrs/pdf/newressales.pdf http://www.census.gov/newhomesales

37

Total Home Sales

http://www.census.gov/construction/nrs/pdf/newressales.pdf https://www.nar.realtor/topics/existing-home-sales

38, 39

Pending Home Sales

https://www.nar.realtor/research-and-statistics/housingstatistics/pending-home-sales

44-46

Case Shiller

https://www.spglobal.com/spdji/en/indices/indicators/spcorelogic-case-shiller-20-city-composite-home-price-nsaindex/#news-research

47

CoreLogic Price Forecast

https://www.corelogic.com/intelligence/u-s-home-priceinsights/

50-56

Inventory

https://www.nar.realtor/topics/existing-home-sales http://www.census.gov/construction/nrs/pdf/newressales.pdf


Resources Slide(s)

Description

Link(s)

58

Showing Activity

https://www.showingtime.com/blog/july-2022-showingindex-results/

60, 61, 63, 64

Mortgage Rates

http://www.freddiemac.com/pmms/pmms_archives.html http://www.freddiemac.com/research/forecast/

Mortgage Rate Projections

http://www.freddiemac.com/research/forecast/ http://www.fanniemae.com/portal/researchinsights/forecast.html https://www.mba.org/news-research-andresources/research-and-economics/forecasts-andcommentary https://www.nar.realtor/research-and-statistics

Mortgage Credit Availability

https://www.mba.org/news-research-andresources/newsroom https://www.mba.org/news-research-andresources/research-and-economics/single-familyresearch/mortgage-credit-availability-index

62

66, 67


Home Sales


Mar-22 Apr May June July Aug Sept Oct Nov Dec Jan-19 Feb Mar Apr May June July Aug Sept Oct Nov Dec Jan-20 Feb Mar Apr May June July Aug Sept Oct Nov Dec Jan-21 Feb Mar Apr May June July Aug Sept Oct Nov Dec Jan-22 Feb Mar Apr May June July

Average Days on the Market

July 2022 49

46 44

42 42

30 31

26 26 26 32 41 41

38

36 36

29

27 26

24 27 36

33 31 31 29 27 26 24 22 22 21 21 21 21 20 18 17 17 17 17 17 17 18 18 19 19 18 17 17 16 14 14

Source: NAR


Existing Home Sales Since January 2014 6,800,000

6,300,000

5,800,000

5,300,000

4,800,000

4,300,000

3,800,000

Jan 2014

Jan 2015

Jan 2016

Jan 2017

Jan 2018

Jan 2019

Jan 2020

Jan 2021

Jan 2022

Source: NAR


Existing Home Sales Year-Over-Year, by Region U.S.

Northeast

-16.2% -20.2%

Midwest

South

West

-14.4% -19.6%

-30.4%

Source: NAR


Existing Home Sales In Thousands 2020

2021

2022

600

500

400

300

200

100

0

January

February

March

April

May

June

July

August

September

October

November December

Source: NAR


New Home Sales In Thousands 90

2020

2021

2022

80 70 60 50 40 30 20 10 0

January

February

March

April

May

June

July

August

September

October

November December

Source: Census


New Home Sales Annualized in Thousands 1060

960

860

760

660

560

460

360 jun-14

Jan-15

Jan-16

Jan-17

Jan-18

Jan-19

Jan-20

Jan-21

Jan-22

Source: Census


New Home Sales Percent of Distribution by Price Range * Less Than 500 Units or Less Than 0.5 Percent

13% 10%

*

0% Under $150K

* $150-$199K

10% 5%

3% $200-299K

$300-$399K

$400-$499K

$500-$749K

Over $750K Source: Census


New Homes Selling Fast Median Months from Completion to Sold

5.1 4.9

4.5 4.5 4.2

4.3

4.5 4.2

4.1

4.0

3.6 3.6 3.4 3.2

3.5

3.6

3.6

3.5

3.4 3.2

3.4 3.4 3.4 3.1

3.2 3.0

3.3

4.5

3.7

3.6

3.2

3.6

3.5 3.5 3.2

3.1 2.9

2.8

2.7

2.8

2.9

2.5 2.3

Source: Census


Total Home Sales In Thousands 2021

2022

676

567 524 443

422

January

593

587

557

646

631

575

517

604

577

557

574

495

436 423

February

March

April

May

June

July

August

September

October

November December

Source: Census


Pending Home Sales 140 130 120 110 100

100 = Historically Healthy Level 90 80 70 60

January 2012

January 2013

January 2014

January 2015

January 2016

January 2017

January 2018

January 2019

January 2020

January 2021

January 2022

Source: NAR


Pending Home Sales Year-Over-Year by Region U.S.

Northeast

Midwest

South

West

-13.4% -15.4%100 = Historically Healthy Level -19.9%

-20.0%

-30.1% Source: NAR


Percentage of Distressed Property Sales Distressed Sales (Foreclosures and Short Sales) represented Less Than 1% of Sales in June. 35%

30%

25%

20%

15%

10%

5%

0%

Jan 2012

4%

Jan 2013

Jan 2014

Jan 2015

Jan 2016

Jan 2017

Jan 2018

Jan 2019

Jan 2020

Jan 2021

Jan 2022

Source: NAR


Home Prices


Sales Price of Existing Homes Year-Over-Year, by Region 14.7%

10.8% 8.1%

8.1% 7.0%

U.S.

Northeast

Midwest

South

West Source: NAR


% Change in Sales Year-Over-Year, by Price Range

-9.8%

-8.3% -12.6%

-17.8%

-27.8% -31.3%

%

$0-100K -27.8%

$100-250K -31.3%

$250-500K -17.8%

$500-750K -9.8%

$750K-1M -8.3%

$1M+ -12.6% Source: NAR


Change in Home Prices Year-Over-Year 20%

15%

10%

5%

0%

Jun 2012

Jan 2013

Jan 2014

Jan 2015

Jan 2016

Jan 2017

Jan 2018

Jan 2019

Jan 2020

Jan 2021

Jan 2022

Source: S&P Case-Shiller


Jan 2014 Feb Mar Apr May Jun Jul Aug Sept Oct Nov Dec Jan 2015 Feb Mar Apr May Jun Jul Aug Sept Oct Nov Dec Jan 2016 Feb Mar Apr May Jun Jul Aug Sept Oct Nov Dec Jan 2017 Feb Mar Apr May Jun Jul Aug Sept Oct Nov Dec Jan 2018 Feb Mar Apr May Jun Jul Aug Sept Oct Nov Dec Jan 2019 Feb Mar Apr May Jun Jul Aug Sept Oct Nov Dec Jan 2020 Feb Mar Apr May Jun Jul Aug Sept Oct Nov Dec Jan 2021 Feb Mar Apr May June July Aug Sept Oct Nov Dec Jan 2022 Feb Mar Apr May June

Change in Home Prices

Year-Over-Year, 20 City Composite

Source: S&P Case-Shiller


Change in Home Prices Year-Over-Year, 20 City Composite 20.0%

July

19.6%

Aug

20.3% 19.1%

Sept

18.5%

18.3%

18.6%

18.9%

Oct

Nov

Dec

Jan 2022

21.1%

21.2%

20.5% 18.6%

Feb

Mar

Apr

May

June

Source: S&P Case-Shiller


Year-Over-Year % Change in Price July 2022

15.8%

3.8%

Current

Forecast Source: CoreLogic


Housing Inventory


Change in Inventory Month-Over-Month, August 2022

Source: realtor.com


Months Inventory of Homes for Sale 2011 - Today 9.5

8.5

7.5

6.5

5.5

4.5

3.5

2.5

1.5

January 2011

January 2012

January 2013

January 2014

January 2015

January 2016

January 2017

January 2018

January 2019

January 2020

January 2021

January 2022

Source: NAR


Months Inventory of Homes for Sale Since 2019 6.0

5.5

5.0 4.6 4.5 4.2 4.0

4.34.3

4.2 4.04.0

3.8

3.8

4.0

3.9

3.9

3.7

3.6 3.5

3.3 3.0

3.0

3.3 3.1

3.13.1

3.0

2.9 2.7 2.5

2.5

2.52.5 2.3 2.0

2.6 2.42.4

2.3 1.91.9

2.0

2.62.6

2.1

2.2

2.1 1.9 1.7

1.5

Jan-19

Feb

Mar

Apr

May

June

July

Aug

Sept

Oct

Nov

Dec

Jan-20

Feb

Mar

Apr

May

June

July

Aug

sept

Oct

Nov

Dec

Jan-21

Feb

Mar

Apr

May

June

July

Aug

Sept

Oct

Nov

Dec

1.6 Jan-22

1.7 Feb

Mar

Apr

May

June

July

Source: NAR


Months Inventory of Homes for Sale Last 12 Months 6

5

4

3.3 3

2.9 2.6

2.4

2.6

2.4

2.2

2.1 2

1.7

1.6

1.7

1.9

1

0

Aug

Sept

Oct

Nov

Dec

22-Jan

Feb

Mar

Apr

May

June

July

Source: NAR


Year-Over-Year Inventory Levels 10%

5%

0%

-5%

-10%

-15%

-20%

-25%

-30% January 2014

January 2015

January 2016

January 2017

January 2018

January 2019

January 2020

January 2021

January 2022

% 7. 5. 3. 6. 6. 5. 5. 4. 6. 5. 5. -0 -0 -0 2. -0 1. 0. -4 -1 -3 -4 -1 -3 -2 -1 -1 -3 -9 -5 -5 -1 -6 -1 -9 -6 -7 -6 -6 -9 -8 -7 -9 -6 -6 -1 -9 -1 -9 -8 -7 -6 -6 0. 0. 2. 1. 2. 4. 6. 4. 2. 2. 1. 2. 0. -1 -2 -2 -4 -5 -9 -1 -9 -1 -1 -1 -1 -2 -1 -1 -1 -2 -2 -2 -2 -2 -2 -2 -1 -1 -1 -1 -9 -1 -1 -1 -1 -9 -1 -4 2. 0.

Source: NAR


Year-Over-Year Inventory Levels Last 12 Months 2.4% 0.0% Aug

Sept

Oct

Nov

Dec

Jan 2022

Feb

Mar

Apr

May

June

June July

-4.1%

-9.5%

-9.8%

-13.8%

-12.8%

-10.4%

-13.3% -15.5% -18.0%

-17.9%

Source: NAR


New Home Monthly Inventory Seasonally Adjusted, Last 12 Months

10.9

9.2

6.5

Aug

Sept

6.2

Oct

8.4

Apr

May

7.0

6.9 6.1

8.4

Nov

5.6

5.7

Dec

Jan 22

6.0

Feb

Mar

June

Jul

Source: Census


New Home Monthly Inventory Non-Seasonally Adjusted 2021 2022

11.2

9.1

7.6

7.6

7.6

7.3

6.9 6.5 5.9

5.6

5.8

5.5

6.4

5.9

5.0 4.4 3.9 Jan

4.3 3.7

Feb

Mar

Apr

May

June

July

Aug

Sept

Oct

Nov

Dec

Source: Census


Buyer Demand


Home Showing Activity Slows as Buyer Demand Continues Rebalancing from Historic Highs Year-Over-Year Increase in Showing Activity, July 2022 Michael Lane, Vice President & General Manager, Showing Time “The slowdown in showings tracks with the overall market rebalancing that’s taking place across the country. Conditions for buyers are less competitive than they were last year at this time, while a general increase in available inventory in most markets has not only given buyers more options to consider, but more time to consider them.” U.S.

Northeast -9.9%

-16.8%

Midwest

South

West

-13.5% -24.2%

-44.0% Source: ShowingTime


Mortgage Rates


Mortgage Rates 30-Year Fixed Rate, January 2018–Today

5.66%

6.0

5.5

5.0

4.5

4.0

3.5

3.0

2.5

2.0

Source: Freddie Mac


2.0

30-Year Fixed Rate, January 2016–Today

7/7 8/4 9/1

4/7 5/5 6/2

1/6/2022 2/3 3/3

10/7 11/4 12/2

8/5 9/2

5/6 6/3 7/1

1/7/2021 2/4 3/4 4/1

11/5 12/3

8/6 9/3 10/1

5/7 6/4 7/2

2/6 3/5 4/2

11/7 12/5 1/2/2020

9/5 10/3

6/6 7/3 8/1

3/7 4/4 5/2

12/6 1/3/2019 1/31

9/6 10/4 11/1

6/7 7/5 8/2

4/5 5/4

1/5/2017 2/2 3/2 3/30 4/27 5/25 6/22 7/20 8/17 9/14 10/12 11/9 12/7 1/4/2018 2/1 3/1

10/6 11/3 12/1

7/7 8/4 9/1

4/7 5/5 6/2

1/7/16 2/4 3/3

Mortgage Rates 5.66%

6.0

5.5

5.0

4.5

4.0

3.5

3.0

2.5

Source: Freddie Mac


Mortgage Rate Projections August 2022

Quarter

Freddie Mac

Fannie Mae

MBA

NAR

Average of All Four

2022 4Q

5.4

4.8

5.2

6.0

5.35%

2023 1Q

5.2

4.7

5.1

6.0

5.25%

2023 2Q

5.2

4.5

5.0

6.0

5.18%

2023 3Q

5.0

4.4

4.9

-

4.77%


2.5

2.0 2018 2/1 3/1 4/5 5/3 6/7 7/5 8/2 9/6 10/4 11/1 12/6 2019 1/31 3/7 4/4 5/2 6/6 7/3 8/1 9/5 10/3 11/7 12/5 2020 2/6 3/5 4/2 5/7 6/4 7/2 8/6 9/3 10/1 11/5 12/3 2021 2/4 3/4 4/1 5/6 6/3 7/1 8/5 9/2 10/7 11/4 12/2 2022 2/3 3/3 4/7 5/5 6/2 7/7 8/4 9/1

Mortgage Rates

30-Year Fixed Rate 6.0

5.5

5.4

5.0

4.0

2022 Q4

5.2

2023 Q1

5.2

2023 Q2

5.0

4.5

Where Are They Going?

3.5

3.0

January 2018 – Today Actual Interest Rates

2023 Q3

Source: Freddie Mac


Mortgage Rates 30-Year Fixed Rate

- Actual - Projected

6

5.5

5

2023

2018

4.5

2019 4

2022

2017

3.5

2016

2020

3

2021 2.5

2016 2016 2016 2016 2017 2017 2017 2017 2018 2018 2018 2018 2019 2019 2019 2019 2020 2020 2020 2020 2021 2021 2021 2021 2022 2022 2022 2022 2023 2023 2023 2023 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4

Rate 3.7

3.6

3.5

3.8

4.2

4.0

3.9

3.9

4.3

4.5

4.6

4.8

4.4

4

3.7

3.7

3.5

3.2

3.0

2.8

2.9

3.0

2.9

3.1

3.8

5.3

5.5

5.4

5.2

5.2

5.0

5.0

Source: Freddie Mac


Mortgage Credit Availability


Mortgage Credit Availability Index (MCAI) July 2022 190 180 170 160 150 140 130 120 110 100

Apr 2013

Jan 2014

Jan 2015

Jan 2016

Jan 2017

Jan 2018

Jan 2019

Jan 2020

Jan 2021

Jan 2022

Source: MBA


Lending Standards Still Under Control Historic Data for the Mortgage Credit Availability Index (MCAI) 900

Housing Bubble: 868.7

800

700

600

500

400

300

200

108.8

100

0

June June June 2004 2005 2006

June June June June June June June June June June June June June June June June July 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2022

Source: MBA


Housing Market Statistics for Northeast Valley Single Family Homes in Carefree, Cave Creek, Fort McDowell, Fountain Hills, Paradise Valley, Rio Verde and Scottsdale, Arizona


Average Price per Sq Ft

for Sold Northeast Valley Single Family Homes


Average Days on Market

for Sold Northeast Valley Single Family Homes


Number of Active Listings for Northeast Valley Single Family Homes


Average Price per Sq Ft for Active Northeast Valley Listings


CONTACT US TO DISCUSS YOUR LOCAL ARIZONA REAL ESTATE MARKET

Peter Shambreskis, REALTOR®, ABR, CRS, GRI, SFR 480-229-6468 Corinne Howard, REALTOR®, ePRO, GRI, SFR, SRS 480-229-6467 info@ShambreskisAndHoward.com www.ShowScottsdaleHomes.com