Although the metro Phoenix housing market is still hot, more sellers are reducing their list prices among competition, according to one real estate expert.
Senior real estate analyst for the Cromford Report Tina Tamboer says homes in the $400,000 to $500,000 range are lowering their list prices, signaling a market shift.
“As a buyer, the good news is if you felt frustrated in the past, you are actually getting a lot more supply to choose from these days," Tamboer said. "It’s a lot less stressful to be a buyer if you can actually afford these interest rates.”
Tamboer’s advice is to avoid overpricing homes, as the market might not meet expectations.
