After years of soaring prices and tight competition, the Phoenix housing market is finally shifting in favor of homebuyers. According to recent data, inventory in the region has increased significantly, giving buyers more options and room to negotiate. Real estate experts note that the cooling market is largely due to rising interest rates and economic uncertainty, which have slowed demand and given sellers less leverage.
Median home prices in the area have begun to level off, and some sellers are even making price cuts to attract offers. This marks a major turnaround from the bidding wars and quick sales that defined the market during recent boom years. Realtors say that while it’s still not a buyer’s paradise, the balance of power has certainly shifted, offering more favorable conditions for first-time buyers and investors alike.
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