Home Sale Slowdown! | Phoenix Real Estate Market Update

by Caitlin McKeague

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
Caitlin McKeague

Broker Associate BRBR679010000

+1(520) 631-9047

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