Saturday, May 19, 2018

Phoenix Housing Market Shows Promise after Consolidation

(Click on the image to enlarge)
Though the two trends generally remain in tandem (not necessarily in lockstep), they somewhat diverged in this case. The Median Sale Prices moved sideways since April, remaining tightly range-bound between $225K and $230K, while the normalized Sale Price per SF started trending up after having bottomed out in August. 

Of course, the fact that the latter’s three attempts to breach the $150/SF resistance have failed signals a sideways move in the near future. Alternatively, if it breaks out of this $145 to $150 congestion, we could see the resumption of the bullish trend.

Note: This analysis covers the City of Phoenix, not the entire Maricopa County.
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