Don’t expect Phoenix housing market crash

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By Catherine Reagor | The Republic

Metro Phoenix fares better in economic downturns not led by the real estate market, but that doesn’t mean the Valley’s housing market will be unscathed by the COVID-19 crisis.

Listings have climbed 20% in the past few weeks, which could indicate that homeowners struggling financially are hoping to get out from under mortgages or short-term rental owners who don’t have customers want to sell. 

The number of homes for sale is still 32% below the same time last year, said Arizona Housing expert Tina Tamboer of the Cromford Report.

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