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What’s Happening With Phoenix Home Prices?

What you need to know about appreciation, depreciation, and deceleration.

 

There are a lot of confusing terms floating around the housing market right now, like appreciation, depreciation, and deceleration. What do these terms mean, and which ones are relevant to our current market? To clear up the confusion, I’ll explain each of these terms and how they relate to what’s happening right now in our housing market.

 

You can listen to my full explanation in the video above or skip to each topic using the timestamps provided:

 

0:00 — Introducing today’s topic

 

0:28 — Check out our home search and home valuation tools

 

1:04 — What is appreciation?

 

1:28 — What is deceleration?

 

2:15 — Our market is not depreciating; it’s decelerating

 

2:46 — Home prices are still going up 10% to 11% on average

 

3:39 — Our market still has a long way to change

 

4:28 — Phoenix is the third least likely market to experience a housing recession in the U.S.

 

5:00 — Wrapping up today’s topic

 

If you have questions about this or anything else related to real estate, please call or email me. I am always willing to help!