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March 15, 2022 Market Update

Tuesday, March 15, 2022   /   by Bryan Baylon

March 15, 2022 Market Update

During February, Maricopa County recorded 13% fewer homes purchased by owner-occupiers than in February 2021. However this was balanced by a 24% increase in homes purchased by landlords to become rentals and a 20% increase in second homes or for flipping (including iBuyer purchases).

Since owner-occupied homes are still by far the largest segment, overall sales volume dropped 3% compared with February 2021.

Sales were up 6% in the West Valley, the only area to show an increase year over year. The Northeast Valley fell sharply - down 22% from a year ago, while The Southeast Valley was down 4% and Central Valley down 1%

All these numbers are for single-family and condo/townhomes combined.

Market incites provided by the Cromford report.

Keller Williams Northeast Realty - The Baylon Group
Bryan Baylon
2005 W. Happy Valley Rd #150
Phoenix, AZ 85085
602-410-0827

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