Multiple offers are back?! Phoenix Real Estate Market Update

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The Phoenix housing market is off to a HOT start this year — and buyer demand is picking up faster than expected. In this weekly Phoenix real estate market update, I break down what we’re seeing in the data and what’s happening on the ground with real buyers and sellers across the Valley.

Here’s what we cover:

• The latest Cromford Market Index (CMI) and what it says about Phoenix, Mesa, Glendale, Chandler, and outer areas like Buckeye, Queen Creek, and Maricopa
• Why some homes are sitting… while others are getting multiple offers (including cash)
• Contract ratio heat map — which Phoenix zip codes are heating up
• Active inventory vs. demand compared to last year
• Mortgage rates update (including the dip under 6% and where we are now)
• How lower rates are affecting buyer activity
• What it would actually take to return housing affordability to 2019 levels (the numbers may surprise you)
• Why prices dropping 35% is more complicated than people think


Did you miss our previous article...
https://trendinginrealestate.com/real-estate-trends/toronto-real-estate-crash-continues