The West Valley real estate market is presenting a mixed landscape for summer homebuyers, as neighboring communities show starkly different paces of activity amid a stabilizing trend across the Phoenix area.
According to June data from Phoenix Realtors, single-family home sales in the Greater Phoenix metro area rose 8.1% year-over-year, more than doubling the national growth rate of 3.2%. A 2.8% bump in the housing affordability index is slowly expanding the pool of prospective buyers.
“There’s a difference between how people believe the real estate market is moving and what the data is showing,” said Sammy Glassman, board president of Phoenix Realtors. “Home sales were very strong in June, and even the pending sales slight decline was significantly smaller than what we’ve seen in previous months.”