Affording a Home in Arizona Takes This Long... | Phoenix Real Estate Market Update

by Caitlin McKeague

Is Arizona real estate becoming unaffordable? This week, we dive into the rising cost of homeownership in Phoenix, including a surprising 8-year timeline to save for a down payment, a sharp spike in homeowners insurance rates, and why buyers are still applying for mortgages despite it all.

We’ll also cover:

Which Phoenix suburbs are seeing a boom in renters (investors, take note!)

What it now takes to buy a “luxury home” in Phoenix

Market trends like price reductions, supply/demand shifts, and the Cromford Market Index

What to expect from the Fed and interest rates this year.