HOUSING MARKET
IS A HOUSING MARKET CRASH COMING IN 2022? By KYLE BACKER and ELINOR TUTORA
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ast year was anything but normal — especially in Arizona’s residential real estate market. Median sale prices rose in Phoenix from $325,000 in January 2021 to $404,300 by October, a 24.4% increase, according to real estate website Redfin. Houses listed for sale saw fierce bidding wars with buyers willing to contort themselves to meet sellers’ demands, which include such concessions as renting the home back to the sellers for a period while they found a new house to purchase.
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AB | January - February 2022
