Real estate

Interest rates most affecting Valley real estate market

The Valley real estate market is currently most impacted by interest rates and affordability as the nation’s economy goes through inflation.

Both buyer demand and active listings from sellers are down; however, active listings have decreased significantly more than buyer demand making it so that sellers have the advantage, according to Phoenix Realtors President Butch Leiber.

Due to interest rates, buyer demand is down 15% to 20% and active listings are down about 48% to 50%, according to Leiber.

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