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West Valley housing markets remain cool in September

As temperatures start to dip in the Valley, so too has the greater Phoenix residential real estate market cooled.

In September, a slowdown in sales continued due to higher mortgage rates, and the month brought a sharper slowdown in new contract activity, according to a monthly report from Phoenix Realtors.

Closed sales dropped 4.9%, and new listings dropped 3.7% in September this year compared to last year, and pending sales fell 40.1%, according to their monthly report.

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