Phoenix’s housing market is seeing a shift as more homeowners are pulling their properties from the market after struggling to find buyers. Recent data shows a growing number of listings removed from sale, reflecting a loss of confidence amid rising mortgage rates and declining buyer interest. Many sellers, facing lower-than-expected offers or failed sales, are deciding to stay put or rent their homes rather than accept current market prices.
Experts say the trend highlights homeowners’ sensitivity to market changes, with some suggesting that sellers are waiting for a possible rebound in home prices. While fewer listings could help stabilize values, the dip in inventory also signals caution among those hoping for a quick sale in Phoenix’s once-hot real estate sector.
Read the original Arizona home sales article.