Phoenix Housing Crash Getting BAD (200% SURGE in Homes for Sale)

Phoenix's Housing Crash is getting BAD. Along with cities like Austin, Salt Lake, Nashville, and Tampa, where Homes For Sale (aka Inventory) has surged over the last year. A signal that Home Prices will continue dropping throughout 2023.

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Inventory Data comes from Realtor.com's Listing Database: https://www.realtor.com/research/data/
Median Sale Price Data comes from Redfin's Database: https://www.redfin.com/news/data-center/

If you're a homebuyer or real estate investor in 2023 it's very important to track inventory data in your market. Because inventory is a good indication of where prices will be going in the next several months. Markets with a big increase in homes for sale, like Phoenix, Austin, and Nashville, are more likely to have price declines.

Many metros are up 200-300% on Inventory YoY. Meaning that there are 3-4x as many homes for sale today as there were one year ago.

Other metros haven't seen inventory increase as much. They are located primarily in the Midwest and Northeast. Metros like Chicago and Boston still have suppressed inventory due to more affordability to go along with a lack of home building and a reversal in migration trends.

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