November 22, 2024 12:23 pm
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Is the homebuyer market cooling in Phoenix?

By Angela Gonzales | Phoenix Business Journal

Homebuyers are seeing a dramatic drop in purchasing power as a result of rising mortgage interest rates surpassing 5% — but for now homebuilders still can’t keep up with demand.

In his recent quarterly housing update for homebuilders and clients, Steven Hensley, senior manager of Zonda Advisory said homebuilders were still seeing so much demand between March and April that 90% of them surveyed said they were continuing to raise home prices.

Read the full subscription story from the Phoenix Business Journal.

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Rose Law Group Reporter, which provides Dealmaker’s content and service, is contracted by Rose Law Group. Rose Law Group is a full service real estate and business Law Firm practicing in the areas of land use/entitlements, real estate transactions, real estate due diligence/project management, special districts, tax law, water law, business litigation, corporate formation, intellectual property, asset protection, data breach/privacy law, ADA compliance, estate planning, family law, cyber-law, online reputation and defamation, lobbying, energy and renewable energy, tax credits/financing, employment law, Native American law, equine law, DUIs, and medical marijuana, among others. The views expressed above are not necessarily those of Rose Law Group pc or its associates and are in no way legal advice. This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice, please contact an attorney in your community who can assess the specifics of your situation.