Phoenix home prices are seeing gradual growth as the real estate market shifts back toward more typical conditions. According to the Cromford Report, the median sales price for a Phoenix-area home rose modestly in April, signaling a cooling trend compared to the frenzied pandemic-era housing market. Industry experts say the market is becoming more balanced, with supply and demand normalizing after years of volatility.
Buyers now have more room to negotiate, and homes are spending more time on the market. Though mortgage rates remain elevated, they’ve stabilized enough to encourage more listings and offer a glimmer of hope for potential buyers. The shift suggests a healthier environment for both sellers and buyers in metro Phoenix’s housing sector.
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