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Housing & Our Community

Arizona Housing Affordability Update October 2022

Arizona Housing Affordability Update October 2022

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The U.S. and Arizona housing markets are in the midst of a sharp correction – the first since the Great Recession. Prices peaked in June and have fallen over 3% through September. Ongoing rising interest rate pressures, a collapse in buyer interest, and lags in the construction and permit approval cycle will likely put continued downward pressure on prices over the next 6-12 months.

Arizona Housing Affordability Update: August 2022

Arizona Housing Affordability Update: August 2022

FULL REPORT As expected, the U.S. and Arizona housing markets are changing rapidly in response to quickly rising interest rates. For the first time since 2011, Phoenix-area home prices fell in July, and despite continued increases in target interest rates average...

Arizona Housing Affordability Update: July 2022

Arizona Housing Affordability Update: July 2022

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The lack of housing affordability is even more acute in Arizona and the Phoenix metro market, where prices have increased much more quickly than nationally; prices here have risen 40% since the end of 2020, versus 25% for the United States

Arizona Housing Affordability

Arizona Housing Affordability

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Arizona – and particularly the Phoenix metro market – is now an expensive place to live. The current inflation crisis has accelerated a longer-run trend in the relatively rapid appreciation of cost of living here relative to other major metro areas.