By Howard Fischer, Capitol Media Services | Arizona Daily Star
A combination of factors could finally slow the rapid increases in the cost of buying a home in Arizona.
Doug Walls, the labor market information director for the state Office of Economic Opportunity said Thursday that the number of homes on the market in Arizona hit 23,719 last month. That’s up 12.9% from the prior month and more than double a year ago.
The figure, which represents both new homes and those being offered up by owners, also is the highest it’s been since the middle of 2019.
Add to that the fact that the number of days the typical home is on the market increased to 41 days in August from 32 days in July.
