Positive Signs Showing in Residential Real Estate’s Challenging Market
New listings climbed 15.8% for the first half of 2024 compared to last year, based on the latest data from Phoenix REALTORS®. The month-over-month median sales price was up just 1.5%. Days on the Greater Phoenix market dropped more than 11% for the year’s first half. “It’s still a challenging marketplace, and the number of homes on the market is growing,” says Sheryl Bowden, board president of Phoenix REALTORS. “With interest rates down nearly a point from last winter, houses are selling faster.” For the first half of 2024, the days on the market dropped from 72 last year to 64 this year, down significantly from the same period in 2023. Even with more homes
