Phoenix Agent’s top 5 local news stories of 2022

by Phoenix Agent

Local real estate professionals need local news — and that’s where Phoenix Agent comes in. Throughout the year, we cover many, many stories about the goings-ons in and around Phoenix-area real estate, from breaking stories to researched lists. Here are the Phoenix real estate stories that generated the most page views in 2022.

No. 1: Bigger portion of Phoenix homes sitting on the market for 30-plus days

In August, Redfin reported that the share of Phoenix homes listed for more than 30 days had increased 54.5% in the last year. The percentage increase in Phoenix was second-highest in the nation, behind only Oakland, California, at 60.7%.

No. 2: S&P Corelogic Case-Shiller Index: Phoenix home prices rise 29.7% in May

Year-over-year home pricing in Phoenix continued to surge through early spring, according to the S&P Corelogic Case-Shiller Index.

No. 3: Two years of median home price growth ended in June, Arizona Regional MLS data shows

Two years of median home price growth in the Arizona Regional MLS ended in June when the median sold price dipped to $500,000 compared to $510,000 in May. 

No. 4: Housing inventory rebounds at record rate in largest metros, and Phoenix is helping lead the way

The number of Phoenix homes available to buyers climbed 113% year over year in June, the second-sharpest increase in the nation, according to Realtor.com’s Monthly Housing Trends Report.

No. 5: 24.5% of Phoenix home-purchase agreements fell through in June

“The slowdown in housing-market competition is giving homebuyers room to negotiate, which is one reason more of them are backing out of deals,” said Redfin Deputy Chief Economist Taylor Marr.

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