By Paul Maryniak | Ahwatukee Foothills News
A leading analyst of the Valley’s housing market said the latest home sale data shows the market is cooling at an “astonishing and widespread” rate.
The Cromford Report last week observed that “buyers’ disadvantage in negotiations has dropped dramatically.”
“This is because there is much less competition from other buyers,” it noted. “Many of these have dropped out due to the eye-popping increase in mortgage rates. There are also many more homes to choose from compared with a couple of months ago.