Home Prices

High interest rates stifling Valley home sales

Some Valley homeowners are reluctant to sell only to trade out their lower mortgage interest rate for a higher one, and with it a likely higher monthly payment.

Potential sellers without a solid plan are expected to wait for the market turmoil to pass, said Thomas Brophy, a housing analyst at Colliers in Phoenix.

This week, the Federal Open Market Committee raised interest rates a quarter point amid it’s ongoing inflation fight.

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High interest rates stifling Valley home sales

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High interest rates stifling Valley home sales

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