From WolfStreet.com
“And so home prices dropped further, according to the S&P CoreLogic Case-Shiller Home Price Index for “January” – which is a three-month moving average of home sales that were entered into public records in November, December, and January, reflecting deals made largely in October through December.”
Phoenix metro:
Month to month: -1.2%.
From the peak in June 2022: -10.5%.
Year over year: flat
Lowest since January 2022.
Although we will see a bump due to the Summer buying season, prices will continue to trend downward through the rest of the year and next. Great news for Buyers, but not so good for Sellers.
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