Housing Bubble is Starting to BURST In Phoenix

Рет қаралды 9,811

Ай бұрын

I'll share a detailed look at the Phoenix housing market. I'll focus on 5 key cities where we're starting to see changes. We'll discuss the impact of high-interest rates and whether this signals an impending crash. I'll break down the latest data from the Cromford Report. I'll analyze the Cromford Market Index for the whole Phoenix market. I'll also analyze it for individual cities. You'll see which cities are still hot sellers' markets, which are balancing out, and which are shifting towards buyers' markets.
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Пікірлер: 35

@kingyos6710 Ай бұрын

I was waiting for the burst part. Right now, all I saw were huge price increases so that the seller gets the price they wanted. Example. If I want to sell my home for 650K then i will list it for 700K and settle at 650K. You haven't really shown the burst. Only tactic being used. I see the game being played.

@107productionsllc6 Ай бұрын

Shawn, As alway, great data-driven analysis without the hype and panic button pushing. You really have your finger on the pulse of the Phoenix-area real estate market.

@shawn.shackelton Ай бұрын

Thanks so much!!

@derekhudson3462 29 күн бұрын

Shawn, this is a really great and informative video. It really breaks down the different segments of the market. I think we are finally starting to see the higher interest rates have an effect on the overall inventory of homes for sale. Some markets are obviously still hot but when we see things start to flatten out, that can be a positive sign for buyers.

@shawn.shackelton 29 күн бұрын

I agree, the flattening of prices as well as those homes that have been on the market for a while. These sellers have to negotiate to get the home sold. Buyers have more negotiating power.

@rickoshea8138 19 күн бұрын

Thanks, Shan; I am not looking for a house in Phoenix, but your analysis and advice are proving useful for me. Thanks for being clear and efficient without your presentation.

@shawn.shackelton 17 күн бұрын

You are so welcome!

@dallidvargas916 29 күн бұрын

Excellent analysis balanced and data driven, but no bubble burst, specially when the fed starts lowering interest rates… but if you review other KZfaqrs, every year is nothing but “ the bubble is bursting “ and of course all backed by their inconsistent data and charts and making references to things being worse than 2007… so in 2020 during the pandemic because people were losing their jobs, then 2022 with the end of forbearance, then in 2023 with the high interest rates, 2024 with the so called short term rental bubble… but yet in Tempe and Scottsdale, prices have only gone higher… regardless of how much everyone says there is a bubble popping. Yeah sure, sit on the sidelines and you’ll see prices drop, right… then 4 years later homes are up 30% to 40% 😒😟

@shawn.shackelton 29 күн бұрын

There is a a big difference between 2007 and now! Very different market conditions. Yet you are right the “crash bros” continue talking about how the market is “crashing” hoping that if they say it long enough it will be right. They use made up charts & anyone who challenges them they will be kicked off their channel. I know a few this has happened to.

@azliam 27 күн бұрын

I know your focus seems to be on Phoenix and the East Valley and I enjoy your videos, but I'd like to see you throw in more concentration on the West Valley too which is in many ways more affordable than the other areas.

@shawn.shackelton 27 күн бұрын

Thanks for letting me know, I will work on adding more information about these areas!

@azliam 26 күн бұрын

@@shawn.shackelton Thanks Shawn!

@nickthinkpainting1978 29 күн бұрын

History shows people always make irresponsible financial decisions..The crash will absolutely happen it’s only a matter of time. Talk about overpaying..yikes.

@shawnshackelton2908 29 күн бұрын

Time will tell but the numbers are not showing a crash...

@nickthinkpainting1978 28 күн бұрын

@@shawnshackelton2908 I’ve lived long enough to see a few there’s no way people can sustain this inflation…

@emanuelsanchez4922 26 күн бұрын

400k for a cardboard coffin in goodyear waooo ! We got californicated .

@joevarga5982 29 күн бұрын

Look at 2637 N 83rd Pl, Scottsdale. Pending in 1 day. 2718 N 8th St, Phoenix. 2 days. 6117 N 71st Ln, Glendale. Same day. 2430 E Boulder Ave, Apache Junction. Same day. 1961 S 242nd Ave, Buckeye. Same day. And there are many others. The market looks RED HOT to me.

@DouglasMcLaughlin-kq7hk 29 күн бұрын

Issue at hand is buyer an individual that moves his family in or an investor/ group that artificially inflates value for their benefit, then flees area when bottom drops out and spends profit in Caymans? Thanks. Joy for neighbors who remain and enjoy falsely valued tax rates because 1 house sold to fool for an exorbitant high level Thanks again. Stepford - like Fountain Hills is not economically disadvantaged. Stepford-like.

@joevarga5982 29 күн бұрын

@@DouglasMcLaughlin-kq7hk Explain how an investor/group artificially inflates value. Explain how 1 house sale can significantly affect tax rates for the neighbors.

@DouglasMcLaughlin-kq7hk 29 күн бұрын

@@joevarga5982 existing house price boosted by 9% affects neighbors as average is also boosted. Have others do same float and assessor sees tax dollars available. Friend bought 2 story home for $145k. One story across the street built at same builder, same time frame, just sold for $450k. You figure tax rate is uniform?

@garretrzepecki9671 29 күн бұрын

Normally great videos from you Shawn. I was hoping for a more representative analysis. Yes, each sub-market is different, but selecting Chandler, Fountain Hills, Scottsdale, PV & Cave Creek to "drill down" into is certainly curated and was a missed opportunity to provide a fair analysis across the board.

@shawn.shackelton 29 күн бұрын

Happy to tell you more about a city you are interested in. I did also talk about the 3 at the bottom of the list...

@garypippenger202 Ай бұрын

The market will move down after the record-breaking heat of summer, 2024, and winter will be warm.

@shawn.shackelton 29 күн бұрын

What makes you think this?

@Komet163B 13 күн бұрын

I own the LEAST valuable detached home, in Scottsdale AZ, 85260 zip code. When I bought it, 21 years ago, it was the least valuable. After spending over $60K on improvements (over the past 7 years, half of that in 2024), it’s still the least valuable home in 85260.. It makes me sad 😢

@shawn.shackelton 13 күн бұрын

Did someone tell you what the value was?

@Komet163B 12 күн бұрын

@@shawn.shackelton Seems any agent who has ever come up with a list price for this house, always suggests pricing lower than any other comparable listing in 85260. Though the last time that was done was prior to the latest $30K worth of remodeling. Last September it was suggested to list for $549K. I see the current lowest price in 85260, for a true detached house, is $560K.. And this is 10 months later. See what I mean..

@rajveerbhatia 3 күн бұрын

There is no burst

@mikej238 Ай бұрын

Classifying all of Phoenix as one market is ridiculous. I'm sure sales numbers vary greatly by zipcode or community. Comparing the Phoenix market to smaller places like Fountain Hills or Chandler doesn't show the big picture .

@shawn.shackelton 29 күн бұрын

That’s exactly what I talked about… 😊

@timothyyoung4061 Ай бұрын

Paradise schools are the worst ever, the families go to private schools. Scottsdale schools are horrible too, the parents that care go to private schools so all your left with is divorced families in the public schools in those two areas.

@shawn.shackelton 29 күн бұрын

This is not my experience at all & I have kids in school in Scottsdale.

@timothyyoung4061 29 күн бұрын

@@shawn.shackelton , yes we had to hire lawyers, and most of my neighbors in Arcadia pulled their kids out of the public schools after only a few years. Maybe you are fine with the wokeness and bullying.

@shawnshackelton2908 29 күн бұрын

@@timothyyoung4061 Was this at Hopi or another school in Arcadia? I ask because I've had clients wanting to get their kids into that school, and it has been one of the only schools that is full, so you have to live within the boundaries. Not Ok with wokeness or bulling at all!