By Angela Gonzales | Phoenix Business Journal
As the housing market continues to cool, metro Phoenix leads the nation as the country’s top market favoring homebuyers, a new study shows. Local experts had called Phoenix a buyer’s market in October.
Home sales platform Knock ranked metro Phoenix at the top of its buyer-seller study, showing the region had 18,210 homes on the market in October, up 89.1% during the same period a year earlier. That puts the housing supply at 2.9 months, meaning if there were no new homes put on the market today, it would take 2.9 months to deplete the inventory.