Valley housing market sees slight slowdown

By Queen Creek Sun Times

Home sales in the Phoenix-metro area saw a decrease in March, but Phoenix REALTORS data still shows bright spots for both availability and home prices. This comes against the backdrop of robust existing-home sales across the United States, which last month exceeded economists’ expectations and marked the largest monthly gain in a year – reinforcing recent rebound and buyer demand trends.

“With dropping interest rates and an increased supply of listings, REALTORS are still optimistic that this year will be better than 2023,” said Sheryl Bowden, president of Phoenix REALTORS. “Even with closed sales dipping slightly in March, home prices and availability still show respectable gains.”

The monthly Phoenix REALTORS report boasted a 12.4% increase in year-to-date listings, which boosted the homes for sale inventory by 25.1% and resulted in 15,635 homes available for sale for the month compared to last year.

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