Home values rise as Valley inventory decrease

By Isabella Schneider | Scottsdale Independent

As the COVID-19 pandemic continues to rage, new home buyers are finding the experience difficult due to limited inventory and increasing prices.

Experts at Zillow say that because of the pandemic, people are holding onto their homes longer, creating a glut in available inventory.

Homes for sale in the metro-Phoenix area decreased by 21.4% over the past year, causing new home buyers in this area to pay 10.8% more for a new house than they would have had to a year ago.

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November 5, 2020

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