The housing market in the Phoenix area is hot. And that might be an understatement.
Median home prices here have risen to more than $400,000 — a nearly 30% rise from last year according to Redfin.
At the same time, we’re seeing investors with deep pockets play an outsized role in making the market competitive.
A new analysis from Realtor.com found that Phoenix is the No. 1 housing market in the country that’s negatively impacted by investors — as they take more houses out of the market than they put back on and leave homebuyers competing for more and more expensive homes.
But there are signs that our market is beginning to soften, according to Tina Tamboer, senior housing analyst with the Cromford Report. The Show spoke with her to learn about how the market is changing.
