{"id":8162,"date":"2023-05-07T16:43:10","date_gmt":"2023-05-07T20:43:10","guid":{"rendered":"https:\/\/homefront.azhousingforall.com\/?p=8162"},"modified":"2023-05-11T16:45:20","modified_gmt":"2023-05-11T20:45:20","slug":"is-metro-phoenixs-housing-market-slowdown-over-heres-why-it-could-be","status":"publish","type":"post","link":"https:\/\/homefront.azhousingforall.com\/is-metro-phoenixs-housing-market-slowdown-over-heres-why-it-could-be\/05\/07\/2023\/","title":{"rendered":"Is metro Phoenix&#8217;s housing market slowdown over? Here&#8217;s why it could be"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">The premonition that the Valley\u2019s home sales prices were set to implode as they did during the Great Recession seems to have had as much validity as the local strip mall psychic\u2019s crystal ball. Valley home prices are on the rise again after a brief slowdown since their record high in June 2022. Listings are sinking fast, falling 7% in March to 17,000; sales are up 33% to 7,417; and the median price swelled to $420,000, up from $412,000 the month before. Cities on the fringe of the metro area like Buckeye, Maricopa and Queen Creek are still buyer\u2019s markets, but there\u2019s been a correction since the fear in late 2022 that a crash was imminent. Why? Supply still isn\u2019t meeting demand, even with higher interest rates in place.<\/span><\/p>\n<p>Source: https:\/\/www.azcentral.com\/story\/money\/real-estate\/catherine-reagor\/2023\/05\/07\/metro-phoenix-housing-market-slowdown\/70180224007\/<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The premonition that the Valley\u2019s home sales prices were set to implode as they did during the Great Recession seems to have had as much validity as the local strip mall psychic\u2019s crystal ball. Valley home prices are on the rise again after a brief slowdown since their record high in June 2022. Listings are [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":3068,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Is metro Phoenix&#039;s housing market slowdown over? Here&#039;s why it could be | AZ Multi-housing Association<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/homefront.azhousingforall.com\/is-metro-phoenixs-housing-market-slowdown-over-heres-why-it-could-be\/05\/07\/2023\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Is metro Phoenix&#039;s housing market slowdown over? 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