Affording a Home in Arizona Takes This Long... | Phoenix Real Estate Market Update
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.
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Caitlin McKeague
Broker Associate | BRBR679010000