Phoenix’s hot housing market may get better for buyers

By Catherine Reagor | Arizona Republic

Buying a home in metro Phoenix may start to get a little less frustrating this summer.

Buyers beat down by bidding wars, rapidly rising prices, low appraisals, fewer and shorter open houses and reluctant sellers finally have a few more Valley houses to choose from.

The supply of Valley homes for sale is inching up for the first time since December.

The slight shift comes after several months of Phoenix-area homes selling for tens of thousands of dollars above asking prices, and buyers hustling to find houses making offers without stepping foot in them.

The pandemic didn’t slow the housing market. Instead, more people working remotely who want houses of their own or bigger ones with offices gave it a boost. Adding to demand for Valley homes is a steady flow of new residents from the West and East coasts and other pricier areas who can afford to pay more.

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