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June 2020 Phoenix Housing Market Report
The Phoenix Housing Market includes extremely low inventory, rising prices and quick sales.  Phoenix has been known for its dynamic, affordable housing market, with  extreme highs and lows.  Currently, the Phoenix Housing Market for June, 2020, is a steadily rising market, but we've recently experienced some solid sales gains in different parts of  "the valley."
 
Check out this chart for Active Listings as of 7/5/2020.  Current inventory for Maricopa County only is down year over year by 42%!  That's almost an unbelievable drop in inventory.  It's clearly down year over year, but also down every year during the last 4 years.  
  
Charts for this report were provided by subscription to the Cromford Report.  Please don't plagiarize! 
 
During this COVID-19 pandemic, one would expect major defaults on loans.  This report may be early in production, but for the month of May, there were only 75 homes who were more than 3 months late on mortgage payments for an area of 1.2 million homes.  I'm saying early in production because June's numbers aren't posted yet, but also because you'd have to miss three mortgage payments or more to be included in this chart.  Maybe a couple more months will be different? That remains to be seen. 
 
 
Listings Under ... more

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