Phoenix is 8th best city for income equality between Blacks and Whites

Congratulations to Metro Phoenix!

Not only does Arizona lead the country in women governors (4 out of the last 5 governors have been women) but now the National Urban League says Phoenix is the #8 best metro area for Black-White income equality.

Phoenix has significantly better income equality than New York, Washington D.C., Chicago, Los Angeles, San Francisco and many other cities.

U.S. Income Equality by Major City

Paradise Valley and Scottsdale moved here

I merged into this website two of my websites that used to be freestanding, Paradise Valley Homes Agent and Scottsdale Homes Agent.

New Page for Paradise Valley

I created a new page here with all things Paradise Valley, AZ.


  • See some cool photos of Paradise Valley. (Click on the photos to see larger versions.)
  • See a list of 28 current and former famous people who lived in Paradise Valley.
  • Link to the official Paradise Valley AZ zoning map.

Paradise Valley from Camelback Mountain

Real Estate Market Graphs

All the charts on Paradise Valley and Scottsdale home sales and prices can now be found on this website. (See links in the sidebar.)

Homes Sold

If you want to get weekly emails of homes sold in any part of Paradise Valley or Scottsdale – including photographs of homes sold – call me.

See Paradise Valley and Scottsdale Posts

See posts that used to be on the Paradise Valley blog.
See posts that used to be on the Scottsdale blog.

I removed the original PV and Scottsdale blogs.

Recent Home Sales

Don’t Sell Too Cheap!

You can now get daily, weekly or monthly reports of homes sold in your neighborhood or zip code, and the reports include detailed PHOTOS of most of the homes sold!

You won’t find homes sold reports with photos anywhere online. These reports aren’t publicly available.

Better than Home Sale News

If you liked my old Home Sale News weekly email reports, you will absolutely LOVE these reports because they have a ton more data on each home sold and they include photographs which is super valuable.

With all the extra data and photos, now it’s much easier for you to compare your home to the homes sold so you can get a very good feel for your home’s market value.


Concierge: A local expert who helps you find what you’re looking for.

“Concierge-style” means you call and tell me what you want in your reports of homes sold and I personally design custom reports for you with exactly what you want.

I can email you recent home sales every day, week or month.

You can choose specific neighborhoods. You can exclude homes that aren’t like yours, for example, you can exclude condos and patio homes.

You choose. It’s all customized for you.

To Get Started

The reports are all personalized for you so I don’t have an online subscription form.

Just give me a call to get started.

And feel free to ask me any questions you have about the local real estate markets or the home selling process.

Best Homes Sold Reports Available

Zillow, Trulia and have nothing that can even compare to these reports of homes sold in metro Phoenix!

You’ll see the same proprietary MLS data that professional real estate agents see on homes sold in metro Phoenix AZ.

You’ll LOVE these home sold reports!

Call me to get started.

John Wake

Realtor, Associate Broker, M.S. (Economics)
(480) 463-4475


Case-Shiller Phoenix AZ – Home Price Index falls slightly in January 2014

The video discusses the data released March 2014 for the Case-Shiller Home Price Index for Phoenix AZ.

Phoenix home price index falls for first time in 2.3 years

The overall Case-Shiller Home Price Index for metro Phoenix fell slightly (one-half of one percent) in the two month from November 2013 to January 2014. It was the first time the index fell for two consecutive months since September 2011.

The Low Price Tier, however, fell 1% from December 2013 to January 2014.

The Low Price Tier was hardest hit by the real estate bust but it also increased the most during the real estate rebound the last two years with the Phoenix Low Price Tier index increasing 87% from August 2011 to November 2013.

The Case-Shiller Index had shown slowing, yet positive, home price appreciation for metro Phoenix throughout the fall until December when the Index fell slightly. The trend continued into January 2014.

Seasonal Bump or Long-Term Trend?

The Case-Shiller Home Price Index is sort of the benchmark for home prices because it measures appreciation and depreciation directly. It’s less prone to being influenced by changes in the mix of homes being sold. I’m starting to wonder if recent increases in luxury home prices may have masked a slight decline in the rest of the market when looking at average home prices.

We won’t know for sure for a couple of months or more whether the slight price declines in December and January were a seasonal thing – that’s typically the weakest part of the year for home prices – or whether it was the beginning of a longer term price trend.

I think it’s the former. Without a strong upward or downward trend, seasonal trends will become more noticeable in Phoenix home prices. Over the last decade, strong downward and upward price trends tended to overpower seasonal trends. Anyway, that’s my thinking this morning.

Phoenix AZ Case-Shiller Home Price Index

Case-Shiller Phoenix March 2014

Phoenix Home Price Tier Breakpoints for January 2014

• Low Tier – Up to $168,477
• Middle Tier – $168,477 – $271,945
• High Tier – $271,945 and up

Phoenix Home Price Appreciation – August 2011 to November 2013

Overall Prices = Up 44%

• Low Price Tier = Up 87%
• Middle Price Tier = Up 53%
• High Price Tier = Up 33%

The Case-Shiller Home Price Index (press release) is the best estimate of actual home price appreciation (or depreciation). The downside to the Case-Shiller Index, however, is that it runs a little old.

Call me, John Wake of HomeSmart, at (480) 463-4475 for more metro Phoenix real estate market information.

Inflation-Adjusted Case-Shiller Home Price Index for Phoenix AZ – January 2014

Overall Prices = 104% of January 2000 index

• Low Price Tier = 97% of January 2000 index
• Middle Price Tier = 101% of January 2000 index
• High Price Tier = 108% of January 2000 index

Case-Shiller Phoenix Inflation-Adjusted Mar 2014

Click link to see all posts on Phoenix Case-Shiller Home Price Index.

Be aware that there are complications when in applying an index (Consumer Price Index) to an index (Case-Shiller Home Price Index) but, nevertheless, the results are revealing.

Why is it so expensive to sell a home?

I want to try new ways to sell homes.

  • Cheaper for sellers
  • Sell homes faster
  • Less downside risk for sellers

You might enjoy working with me to test these ideas if:

  • You’re innovative and you enjoy trying cutting edge products. For example, do you create new products yourself at work or for fun?
  • When you sell a car, do you include a shoebox full of service records?
  • When you sell a car, are you happy with the Kelly Blue Book price?

If that sounds like you – and you have a house to sell in metro Phoenix – call me and let’s chat.

John Wake

Realtor, Associate Broker, M.S. (Economics)
(480) 463-4475


Phoenix AZ Home Price Watch

No falling prices through February 2014

The top topic of conversation among real estate agents right now is falling home prices in Phoenix.

I just got data of metro Phoenix home sales for February 2014 and updated my charts in the right-hand sidebar and we have NOT seen lower median home prices… at least through February.

March will be the key to how the rest of 2014 plays out. If the median home price fell in a lot of zip codes in March, that would be a sign of a weaker than average Phoenix real estate market because median home prices typically increase in March.

Even if home prices don’t increase in March, I would certainly expect to see at least a little uptick in prices in April.

Phoenix Real Estate Market Trends

This is an exciting (and a little bit scary) time for Phoenix residential housing prices because the market is changing and we don’t know exactly where we’re headed.

Phoenix negative equity = 22%. U.S = 19%.

Via Phoenix Business Journal.

Roughly 22% of metro Phoenix homeowners were upside down on their mortgages during the fourth quarter of 2013.

22% is approaching the U.S. national average of 19% of homeowners being underwater.

22% is also a steep plunge from a year ago when 40% of Phoenix mortgage holders had negative equity, according to Zillow.

The biggest reason for the dramatic improvement was that Phoenix home prices increased 25% in 2013.

Decline Leads to Increase

The decline in the number of homes with negative equity partially explains the large increase in the number of Phoenix area homes hitting the market since last summer.

Inventory Continues to Increase – Phoenix AZ Real Estate Market at a Glance – March 2014 Report

John Wake analyses the Phoenix real estate market using Phoenix MLS (Multiple Listing Service) data. The metro Phoenix MLS comes out with new data each month on the number of homes sold, the median price of the homes sold, the number of unsold homes listed for sale, and the number of new listings that hit the Phoenix market each month. See all past “Phoenix Real Estate Market at a Glance” reports on a single page.

March 2014


  • The inventory of homes listed for sale in the MLS continued to increase in March although I had expected it to fall, as it would in a normal year. The increase reflects a ton more homes hitting the market this year compared to last and a lower number of sales, both because home prices are significantly higher this year compared to last.

Watch the video for a discussion.


Video covers data through February 2014 for home sales and price and through March 15 for housing inventory on the Phoenix real estate market.

TIP – To improve the quality of the video, 1) click on the YouTube logo near the bottom right to watch video on YouTube, 2) click on the “gear” near the bottom right of the video, and then 3) select on “1080p HD”.

Interactive Chart