Impact of ‘Bifurcation’ on Arizona Housing

High-end homes sell briskly, hitting record prices, often driven by buyers less constrained by financing.
Entry-level and mid-tier homes linger longer, with more price cuts and fewer multiple-offer situations than years ago.
Rising interest rates reduced demand, yet inventory stays avg or below avg historically, helping moderate-priced homes stay steadier.
Buyers gain leverage in mid and entry tiers, while luxury buyers must move fast on desirable listings.
The split likely persists; affordability remains strained, and population growth may keep fueling luxury pricing.