Is the Phoenix Housing Finally Back to Normal?


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… 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.