Phoenix Real Estate News

It’s been an eventful 4 weeks, again. Conventional rates dropped from their high of 7.1% on March 2nd to 6.1% by April 5th.

Rates defied industry predictions once again and rose over a point from 5.99% to 7.1% between February 2nd and March 2nd.

The spring season combined with mortgage rates briefly stabilizing between 6.0-6.2% contributed to an 86% increase in accepted contracts.

After a 4-week Buyer Market from November to December, the ratios of supply to demand are moving Greater Phoenix back into a Balanced Market.

Buyer demand has been more reactive to mortgage rates than normal, but that’s to be expected at the rate of increase we’ve seen this year.

Subscribe to our newsletter

I want to learn about