Phoenix Housing Market Faces 'Mass Sell-off' as Home Values Plunge

After the dust settled on the pandemic buying frenzy, which massively inflated home prices in the city, property values in Phoenix are collapsing.

Real estate analyst Nick Gerli, the CEO of Reventure App, warned of a potential incoming crash, as home prices are down 6.9 percent from their peak in June 2022.

"This market is trending down, and trending down fast," Gerli said in a recent YouTube video.

Newsweek contacted Phoenix Realtors for comment by email on Thursday outside standard office hours.

Why It Matters

The Phoenix housing market exploded briefly during the pandemic, when demand skyrocketed amid a housing supply shortage. Remote workers relocating to the relatively cheaper city brought up home prices and values. Between February 2020 and February 2025, home prices were up 53 percent in Phoenix and 56 percent statewide in Arizona, according to Zillow. During the same five years, prices grew by 45 percent nationally. ......................(more)

https://www.msn.com/en-us/money/realestate/phoenix-housing-market-faces-mass-sell-off-as-home-values-plunge/ar-AA1DYn9I