The Valley’s real estate market numbers are a confusing jumble right now, but experts agree it’s a buyer’s market — it’s just that they’re not actually buying.
For instance, the number of new listings and the median sales prices keep climbing in the Valley, according to year-to-date data from Phoenix Realtors, but August’s sales and closings to date are running below last year’s numbers.
While new listings in the Valley were up 14.2% in August and the median sales price was up 4.8% year-to-date, pending sales are down 7.8% and closed deals are down 3.8% compared with 2023 year-to-date numbers.
