Arizona November Real Estate Market Update
As Christmas approaches, the real estate market slows, prices stabilize despite interest rates rising. Supply and demand are shifting towards a buyer’s market. Job growth in Arizona is strong, but the Cromford Market Index indicates a decline in some cities. The outskirts, with new builds, signal the start of buyer’s markets, and rental prices are gradually dropping. The real estate landscape is evolving with both challenges and opportunities as we head into the new year.
Arizona October Real Estate Market Update
For much of this year, the new listing counts have been extremely low—often more than 40% below the same period in 2022. We observed between 6,500 and 7,500 new listings every 28 days from May 25 to Oct 2.