By Angela Gonzales | Phoenix Business Journal
Valley home prices dropped in July, leaving many homebuyers wondering if a buyer’s market is imminent, even in the midst of higher mortgage interest rates.
The monthly average home sales price in July dropped 9.6% compared to the previous month, from $602,586 to $546,403, according to The Cromford Report. The median sale price in July fell 4.8%, from $475,000 to $452,000.
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