Phoenix's housing market shifted toward buyers with a nearly 12% increase in active inventory and a 7.6% drop in median list prices. Over 25% of listings had price cuts, signaling strong buyer negotiating power. Homes stayed on the market longer, averaging 54 days. Sellers face stiff competition and must price competitively to avoid extended listings and price reductions. The market favors patient buyers amid rising supply and cooling demand.
Continue to full article
Discover more from Lisa Miller Pllc
Subscribe to get the latest posts sent to your email.