Phoenix Real Estate Market Update │January 2024

Phoenix Real Estate Update for January 2024: In a development that will dismay "the housing-crash forecasters" Phoenix, Arizona is in a Seller's Market again! After a brief period of being a "Balanced Market", almost every city of the Metro Area had a increase in the last 30 days. Although 2023 was difficult for the housing market, we had a 4.8% year to date market appreciation and 2024 is already off to a great start with boost of mortgage application since the beginning of the year. I think homebuyers will finally great a break! Data provided by The Cromford® Report from the Arizona Regional MLS, which provides detailed information by tracking the history and current stats of the Greater Phoenix residential resale market directly from our Multiple Listing Service.*