Housing inventory should reach pre-pandemic levels by the end of 2024, according to the results of Zillow’s latest Home Price Expectations Survey. More than 100 market experts and economists weighed in to predict upcoming trends.

The median home sale price jumped more than 28% in Phoenix over the last 12 months, according to the RE/MAX National Housing Report.

Affordability and supply-chain issues continued to weigh on the sales of new single-family residences.

Nearly $3.8 billion in Phoenix home purchases were made by investors during the 4th quarter of 2021, second-highest among metros measured.

What does the current generation of homebuyers and sellers look like? How old are they and how are they doing business? NAR has answers.

Home value appreciation was greater than median earnings in 25 of the largest U.S. metro areas in 2021, and Phoenix was no exception.

The median existing-home price for all housing types in February was $357,300, up 15% from a year before, as median prices rose in each region.    

“More groundbreaking is welcome news for a supply-starved housing market.” — First American deputy chief economist Odeta Kushi 

The measurement of six-month sales expectations among homebuilders took an especially negative turn in March, according to the National Association of Home Builders. 

“Investors are weighing the impacts of rapidly increasing inflation in the U.S. and many other parts of the world against the potential for a slowdown in economic growth due to a renewed bout of supply-chain constraints.” — MBA associate vice president of economic and industry forecasting Joel Kan

Phoenix ranked 12th in the country for transactions of $100,000 or more above asking price. Los Angeles was No. 1.

Of the homes that went under contract during the four weeks ended March 6, 58% had an accepted offer within the first two weeks of going on the market, and 45% had an accepted offer within just one week, Redfin reported.

Foreign buyers accounted for less than 2% of U.S. residential real estate transactions last year, and Russian buyers accounted for less than 1% of those, the National Association of REALTORS® reported. 

Other Arizona cities on the list include Glendale at No. 26, followed by Mesa (31), Phoenix (37), Tucson (41), Chandler (61) and Gilbert (65).

“Looking ahead, the potential for higher inflation amidst disruptions in oil and other commodity flows will likely lead to a period of volatility in rates.” — MBA associate vice president of economic and industry forecasting Joel Kan 

The median home sales price in Maricopa County hit $439,900 at the end of the year, a 27% increase year over year and more than double what it was in 2015, ARMLS reported.