Phoenix home prices will remain solid in 2023, experts say – Axios

Phoenix
Illustration: Brendan Lynch/Axios
Local experts predict 2023 will bring more shifts to the Phoenix-area market. Here’s what they’re saying:
Andrea Crouch, president of Phoenix Realtors, projects home prices in Arizona will increase by 10%, while the number of sales decrease by about 12%-13% compared with 2022.
Properties are taking a bit longer to sell, and there’s no onslaught of 10 offers being received in two hours, says Sheryl Bowden, vice president of Phoenix Realtors.
The rapid shift in Phoenix from a strong seller's market to a buyer's market was mainly fueled by buyers balking at high interest rates, says Butch Leiber, president-elect of Phoenix Realtors.
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Copyright Axios Media, 2023

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