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November 2019 Market Stats

Phoenix Homes November 2019 Market stats

The Pending Price Index

In STAT, we typically end with our projections for the next month, but this month we begin where we usually end. The PPI index is our look ahead, but it also puts 2019 into perspective. For December, the Pending Price Index anticipates that median sales will not only increase but will also set a new high-water mark for 2019. This is the 5th time in 18 years of data reporting that a December has claimed the highest median sales price for the year. STAT is projecting a median sales price of $287,900 which will surpass the June high of $285,000. Why is this important? In the past, strong pricing gains in December create strong price momentum as we move into our “home buying season” which takes off in March. #phoenixhomes #phoenixmarketreport #phoenixrelocation #phoenixrealestate

See full report here...