Arizona’s real estate market has shown resilience in 2024, even with higher mortgage rates impacting affordability for many buyers. While prices have moderated in some areas, demand remains steady due to continued population growth and limited housing supply. Market experts note that buyers now have more negotiating power than during the peak frenzy, and some regions of Arizona are seeing upticks in new listings, which could lead to stable or slightly declining home prices in the near term.
However, the decision to buy should also consider personal financial circumstances and long-term plans. While timing the market perfectly is nearly impossible, those looking for stability, especially in popular cities like Phoenix and Tucson, may find current conditions favorable compared to previous years. Experts recommend consulting with local real estate professionals to better understand neighborhood trends before making a decision.
Read the original Arizona home sales article.