By Paul Maryniak | Ahwatukee Foothills News
Author F. Scott Fitzgerald’s observation that “the rich are different from you and me” could easily be applied these days to the Valley housing market, judging by a leading analyst’s research.
The Cromford Report last week said an analysis of sales data for the first two months of 2024 and the same period this year shows luxury home sales occupy a world of their own.
“The market is no longer performing as a single entity as the high-end is increasingly disconnected from the affordable and mid-range markets, which comprise the bulk of transactions,” it said.
The analysis is based on a couple of comparisons.
First, the Cromford Report said expensive communities in the Northeast Valley accounted for five of the six largest increases in average square foot price for single family homes over the last two years.
