04/15/2024
REAL ESTATE MARKET UPDATE!
The performance of the Phoenix real estate market has been somewhat erratic in the past month. Some areas have seen significant improvements for sellers, while others have experienced notable declines.
In the latest data, 10 cities have shown an uptick in property values and homes entering into contracts over the past month, while 7 have seen decreases. This trend mirrors what was observed last week.
Notably, Tempe, Goodyear, and Paradise Valley have experienced the most significant shifts in favor of sellers, closely followed by Avondale and Scottsdale. Conversely, Fountain Hills, Queen Creek, Cave Creek, and Buckeye are among the primary locations favoring buyers, with Peoria trailing closely behind. Buckeye remains at the lower end of the spectrum, while Chandler stands out as the leader.
Currently, 10 out of 17 cities are considered seller's markets, while 3 are balanced, and 4 are buyer's markets. This distribution remains consistent with the previous week's findings.
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