By Brent Ruffner | YourValley
Valley home prices are expected to fall 3% to 5% year-over-year from last year’s numbers by the end of 2025, according to Tina Tamboer, a housing analyst with the Cromford Report.
The current median home price in Maricopa County is $445,000 and more single-family homes could exchange hands if mortgage rates tick down, Tamboer said.
As of Aug. 5, the average 30-year fixed-rate mortgage was 6.72%, according to the Freddie Mac website.
“If rates go below 6.5% — we’ll definitely see some more buyer activity,” Tamboer said.
Now, Valley sellers “are providing a bit more” to buyers while those buying homes are getting a nicer place to live in the form of upgrades, the housing analyst said.
