Is the Phoenix Housing Finally Back to Normal?

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According to Arizona State University, the Metro Phoenix Housing Market finally has the appearance of being more “normal”, with rising home prices, waning investor involvement & dwindling foreclosures & distressed properties across the Valley. After many months of chronic shortage of available inventory, it is even looking like a more balanced market as well, with rising home prices & mortgage interest rates slowing buyer demand.

One area of needed improvement is available new homes in the area…..as builders struggle to meet buyer demand & increasing population growth, due to the increased cost and lack of available land on which to build.

It is good to see that the direction of the market is towards a much more balanced scenario but we still have a ways to go.