
Valley Housing Market Shows Signs of Stabilization as Listings Nearly Double in The Last Year
PHOENIX (3TV/CBS 5) — Phoenix’s housing market shows signs of stabilizing amid more supply and higher mortgage rates. There is nearly double the number of active listings compared to last year. According to The Sakala Group, That’s 21,263 today compared to 11,228 at the same time last year. Such an increase is giving more buyers options. And Realtor Shelley Sakala says the mortgage rates also put buyers on pause. Earlier this summer, average mortgage rates