Effect of foreclosures on Arizona home prices

This real estate bust will be the worst time in many people’s lives, “Remember, when we lost the house in 2008 and almost got divorced?”

But for real estate geeks, the economic shock is exposing the inner workings of housing economics.

The video below compares how the real estate bust effected the median home price per square foot in three neighboring zip codes in the northwest Valley of the Sun. Sun City West is intriguing because it had very few foreclosures while the two other nearby zip codes had tons of foreclosures.

Video Comparing a Low Foreclosure Zip Code to Two High Foreclosure Zip Codes

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Sun City West 85375 Boundary Map

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Surprise 85374 Boundary Map

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El Mirage 85335 Boundary Map

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January 30, 2010 by Realtor John Wake

About The Author

John Wake

Born in Phoenix, trained as an economist and now a licensed Realtor, John uses hard data from the real estate market to help his clients -- buyers and sellers of residential real estate -- uncover their best choices for finding the right home or finding a buyer for their current home.

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