Watch this graphic-rich presentation on the ups and downs in the U.S. housing market since COVID hit in March 2020. It's the "why" behind the rapid rise and recent decline in buyer demand and home sale prices. You'll see graphs showing interest rates, home price changes, available inventory fluctuations, buyer demand, and more... all driven by home loan interest rates. This was recorded on September 21, 2022.
A balanced market with buyers and sellers having equal negotiating power
72SOLD CEO shares some insight into market changes.
ABC15 reports that a shift in the housing market indicates some spots in the valley might be becoming more of a buyers market. In certain cities there are more houses than buyers. "The doubling of interest rates definitely had a significant immediate impact on buyer demand." When interest rates went up, investors started leaving...opening the door for more families. Maricopa, Buckeye, and Queen Creek are just a few of the cities now considered more favorable to buyers. Paradise Valley, Scottsdale and Fountain Hills however are still considered more favorable to sellers. Hague thinks most of the valley will be in a balanced market for at least the next 6 months. Watch the video for the full report or visit ABC15.com for more details.
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