I bet this real estate market update for the Greater Phoenix area will surprise you! The media wants to try to scare you, but the numbers don’t lie. In spite of higher mortgage rates, higher inflation and bank failures, most cities in the Phoenix area are now officially back in a sellers market. On top of that home values have increased every month for 4 straight months!
Mortgage interest rates alone cannot affect home prices. What DOES affect home prices is supply and demand taken in combination. Watch here to find out how all those pieces fit together right now in April 2023.
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