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.

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May 17, 2022

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