Are house prices going to drop in Arizona?
The median home value in Arizona is $272,626.
Arizona home values have gone up 6.6% over the past year and Zillow predicts they will rise 5.0% within the next year.
The median list price per square foot in Arizona is $166.
Will Phoenix housing market crash again?
Based on the current supply-and-demand situation in the area, it seems unlikely that the Phoenix real estate market will crash anytime soon. With that being said, this market will probably experience a lower level of home-price appreciation in 2020, compared to the gains of 2018 and 2019.
Will the housing market crash in 2020?
Most Americans are concerned that the real estate market is going to crash. A 2017 survey found that 57% agreed that there would be a “housing bubble and price correction” by 2020. 1 As a result, 83% of them believe it’s a good time to sell.
Is Arizona in a housing bubble?
Arizona now has the third-most-severe affordable-housing shortage in the country, according to the National Low Income Housing Coalition. That means that for every 100 extremely low-income people in the state, there are only 25 potential places they could afford to live.