By Catherine Reagor | Arizona Republic
House hunters hoping to take advantage of a buyers’ market in metro Phoenix might have missed their chance.
Home sales are down, but so is the number of houses listed for sale. That combination is stabilizing the market, according to local real estate analysts.
Several Phoenix-area cities that were buyers’ markets only a few months ago have shifted back to sellers or are now balanced instead of heavily favoring buyers.
“The last six months of 2022 were rough,” said Tina Tamboer, senior analyst with the Cromford Report, before more than 300 real estate agents and housing industry insiders at a recent HomeSmart Elite meeting. “But we are looking at a recovery. Buyers’ markets are gone in several cities.”
She said December’s numbers on sales and prices won’t be great. But, based on pending contracts, a pickup in the market is starting.
