Home Prices Stablize, but still up 39% from before the pandemic.

Home sales are ticking up and price declines are leveling off as buyers ready for the spring sales season. But sellers have yet to join the fray — the number of homes for sale is the second-lowest on record — meaning stiff competition for well-priced homes.

What mortgage rates do next will have a huge impact on home prices and the market’s momentum in my opinion.If the rates get down to 6 ish percent I think we will have a soft landing and remain in a sellers market here in Metro Phoenix.

As buyer you have more time to make informed decisions on your purchase, and if inventory remains low sellers will still see multiple offers on the well priced & appointed homes.

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