A reprieve in rising home prices for metro Phoenix buyers comes as mortgage interest rates jump to highest level since 2008.
Valley home prices are on track to fall again in September, afterBut the reprieve for buyers shut out by an overheated housing market during the past few years comes as mortgage interest rates climb to the highest level since 2008.
But she said this is the market for homebuyers “who have been kicked to the curb for the past years” by investors and corporate buyers paying cash and sparking bidding wars.Sales, prices and listings The Valley’s median home price is still up 10% from August 2021 but is poised to dip to $440,000 in September based on pending sales, reports ARMLS.
The number of houses listed for sale is up 89% from a year ago to 21,832, so buyers definitely have more choices.
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