Phoenix area housing market is cooling off
Published: Tuesday, November 7, 2023 - 10:54am
The housing market has been a seller’s game for a while now. But in metro Phoenix, it's been cooling off.
Tina Tamboer is a senior housing analyst with the Cromford Report, says indicators show a stable, balanced market in the near term.
"What that generally means is first thing that you’ll see is not prices decline. The first thing you’ll see is a stagnation," Tamboer said.
She says the median home price is just about dead even with last year’s. Since July, interest rates for some loans have dropped as low as 6.7%.
