Home Sale Slowdown! | Phoenix Real Estate Market Update
Phoenix is one of the few major metros showing softening home prices while 71% of the country is still seeing prices rise. In this week's market update, I break down what the latest national data means for Phoenix buyers and sellers — and why our local market is actually behaving differently than the headlines suggest.
WHAT'S COVERED IN THIS UPDATE:
- Slowest March home sales nationally since 2009
- Why Phoenix sales are actually UP year-over-year (against the trend)
- The realtor.com map showing Phoenix in the red
- Phoenix median sales price: down year-over-year
- New construction vs. resale — the gap is widening
- Mortgage rates update (currently around 6.44%)
- Cromford Market Index: Phoenix at 82.5 (technically a buyer's market)
- Which Phoenix cities are still seller's markets (hint: Avondale to Fountain Hills)
- Hottest zip codes right now in Chandler, Tempe & North Phoenix
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Caitlin McKeague
Broker Associate BRBR679010000