Arizona’s real estate market is seeing shifting dynamics as home sales continue to face challenges from high mortgage rates. With borrowing costs remaining elevated, many potential buyers are being priced out of the market, resulting in slower sales activity throughout the state. However, some areas are showing resilience, with modest increases in listings and a slight cooling of home price growth, offering a glimmer of hope to those still searching for affordable options.
Despite these trends, industry experts caution that significant relief may only come if mortgage rates decline further, allowing more buyers to enter the market. Until then, Arizona’s housing landscape is expected to remain competitive, especially in desirable neighborhoods, while both buyers and sellers adjust their strategies in response to ongoing economic conditions.
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