How much the real estate market was going to be affected by Covid

[Joe Biundini]

I know many of you are wondering, how much the real estate market was going to be affected by C19. Attached are graphs showing market activity in the Phoenix area with an emphasis on Scottsdale and Paradise Valley. The chart below denotes the "per square foot" price increases and decreases between now and the corresponding period in 2019. Lock-down has been lifted and so have prices! In the last 30 days the real estate market in Phoenix started booming again. Homes in Paradise Valley, our uber luxury market, are up 11.8% over last year. Scottsdale is up a strong but modest 5.7%. At the start of the C19 lock down, the "acceleration of prices" stopped ... but did not fall below 2019. However now, the Home buying train is back. Even with a 'state wide lock-down' and quarantine; pricing was only effected while home-buyers almost had to sneak out of their homes to buy..