Home sales are down 45% in the Phoenix metro area from Dec. Another bargaining tool is knowing that homes are staying on the market significantly longer than they have been during the pandemic. Another thing to keep in mind is that mortgage interest is tax deductible for primary homes. So, the luxury markets are still doing very well.”Įarlier this month, Arizona Family spoke with the Arizona Association of Realtors, who said that sellers are currently helping buyers buy down those high-interest rates. Then you have the northeast like Scottsdale, Fountain Hills, Cave Creek those areas are still in seller’s markets. “But, some areas like right like Phoenix, Chandler, and Glendale are in balanced markets-still very good for buyers. “Very good deals are to be had with builders,” Tina Tamboer with Cromford Report said. TRENDING: These 4 Arizona restaurants made Yelp’s Top 100 Places to Eatĭeclines are also being seen by Valley home builders as long as you’re staying away from luxury markets. “We feel like we have a very strong market in Phoenix and in Arizona in general,” she said. As a result, people buying a home to live in have less competition as the investors sit out and avoid buying houses to flip or rent for profit. She adds the high-interest rates have also pushed investors out of the market. “We’re seeing a market adjustment everybody agrees with that, just not to the speculation of 2007-2008 and what we dealt with then,” she explained. She says while the prices have dropped, they won’t crash like they did 15 years ago. It’s allowing buyers to get back into the market. Ready says the market in Arizona is leveling right now. View listing photos, review sales history, and use our detailed real estate filters to find the perfect place. “That just can’t happen now because of regulations in lending. Zillow has 37267 homes for sale in Arizona. 1504 homes were listed for sale this month in Phoenix, AZ. The total number of homes for sale in Phoenix, AZ is 39 lower than it was at the same time a year ago. Median Sale Price for homes in Phoenix, AZ was 428,468 last month. “They weren’t verifying income, and people could buy multiple houses. There are currently 4,265 homes for sale in Phoenix, AZ. “That crash in our market was driven a lot by practices of the lending institutes,” Arizona Realtors vice President Sindy Ready said. Local real estate experts disagree with the outlook from Goldman Sachs, saying this year could bring a collapse similar to 2008. A Consumer Price Index from November showed prices increased 12.1% year-over-year. Cities like Chicago and Philadelphia should see increases instead, although they’re expected to be nominal when comparing income. While most experts, including Goldman Sachs, agree that the housing market is beginning to normalize after pandemic-driven demand, there is still a lot of uncertainty.Īrizona’s Family got the report which forecasted 20 housing prices to fall the most in the West, where many mortgage payments claim half or more of a monthly income. Reimagine this home Listing courtesy of Keller Williams Arizona Realty. The three other cities include San Jose, CA San Diego, CA and Austin, TX. 1264 E VOLTAIRE Avenue, Phoenix, AZ 85022. Zillow has 13 homes for sale in Phoenix AZ matching Phoenician Resort. cities, including Phoenix, could see a “seismic” crash like the 2008 Great Recession in the coming year. The New York Post first obtained the memo from Goldman Sachs that said four U.S. Now that the housing market is beginning to cool off, a major investment firm is giving an ominous look at Phoenix’s housing market. Redfin is redefining real estate and the home buying process in Payson with industry-leading technology, full-service agents, and lower fees that provide a better value for Redfin buyers and sellers.PHOENIX (3TV/CBS 5) - Interest rates are sky-high, while overall affordability in the Valley is at record lows. If you're looking to sell your home in the Payson area, our listing agents can help you get the best price. Our Payson real estate stats and trends will give you more information about home buying and selling trends in Payson. Redfin has a local office at 2205 East 7th Ave., Flagstaff, AZ 86004. Our top-rated real estate agents in Payson are local experts and are ready to answer your questions about properties, neighborhoods, schools, and the newest listings for sale in Payson. Use filters to narrow your search by price, square feet, beds, and baths to find homes that fit your criteria. Find your dream home in Payson using the tools above. In addition to houses in Payson, there were also 2 condos, 2 townhouses, and 1 multi-family unit for sale in Payson last month. In the past month, 39 homes have been sold in Payson.
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