Home Sales Falling Through at Record Highs | Phoenix Housing Market Update
Home purchases are being canceled at a record rate — the highest for any July on record, according to Redfin. In this week’s Phoenix Market Update, I break down what’s driving these cancellations, how Phoenix compares to national trends, and what changing mortgage rates mean for both buyers and sellers.
We’ll cover:
✔ Why cancellations are happening at higher rates
✔ Phoenix cancellation data vs. the national numbers
✔ What’s going on with active listings and listing success rates
✔ How falling mortgage rates are impacting new construction & resale
✔ Cromford Market Index updates + city-by-city trends
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Caitlin McKeague
Broker Associate BRBR679010000