Edmond Smith Valuations

More Than 80% of Metro Areas Registered Home Price Increases in Fourth Quarter of 2023 Fifteen percent of the tracked metro areas saw double-digit price increases in Q4 2023, and the 30-year fixed mortgage rate fell from 7.79% to 6.61%.

https://finance.yahoo.com/news/almost-everyone-thinks-its-a-bad-idea-to-buy-a-house-now-survey-shows-182243651.html

Almost everyone thinks it’s a bad idea to buy a house now, survey shows In the latest survey from Fannie Mae measuring housing sentiment, 84% of respondents in September said now is a bad time to purchase a house.

How will this affect home prices in Maricopa county? Where will buyers go? Tucson? Flagstaff? How will this affect those markets?

Major city announces ban on new homes due to concerning conditions: ‘We’re going to manage this situation’ The new ban won’t stop the 80,000 building permits for new homes that have already been approved.