Market Trends
Prices are still going up but at a much slower rate.
A Market in Flux
Home supply is still below average, and demand for homes is well below this same time last year.
Beginning of Phoenix Buying/Selling High Season
Although rates had been forecasted to rise throughout 2019, current rate forecasts have become less certain.
The New Year and the Phoenix Real Estate Market
For 2019 we start the new year with one of the lowest available resale inventories in a long time
Supply of Listings on the Rise
Just like last month, there has been a definite improvement in available supply.
Monitoring the Slight Cooling in the Market
Phoenix home prices have flattened and appreciation appears to be slowing.
Gradual Market Slowdown
The residential real estate market has continued to slow gradually, due mostly to rising interest rates and prices.
Let’s talk about interest rates
This week, Freddie Mac reports that interest rates for 30-year home loans rose to 4.9%. That is up .19% from just last week.
