Buyers gain upper hand in Valley housing market

By Jeremy Duda and Sami Sparber | Axios

It’s a homebuyer’s market nationally — if you can afford it — and in few places is that truer than the Phoenix Valley.

The big picture: There are nearly 500,000 more sellers than buyers in the U.S. housing market, Redfin estimates.

Why it matters: That’s the widest gap on record — and a big reversal from just a few years ago, when buyers were desperate to find a place to live, sending prices into the stratosphere, Axios’ Emily Peck reports.

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