Homebuyers now have the advantage in metro Phoenix market

The Knock Buyer-Seller Market Index 2023 forecast released Jan. 5 shows that the top five buyer's markets are west of the Mississippi River, while the top five seller's markets are concentrated on the East Coast.

Taking second place in the top five buyer's markets is Colorado Springs, Colorado; followed by the Las Vegas area; Dallas/Fort Worth area; and the Denver area, according to the Knock report. Fayetteville, N.C.; Harrisburg-Carlisle, Pa.; Syracuse, N.Y.; Hartford-East Hartford-Middletown, Conn. and York-Hanover, Pa., top the list of Knock’s best markets for sellers in 2023.

Sean Black, co-founder and CEO of Knock, said Phoenix quickly flipped from a seller's market to a buyer's market and he expects the trend to continue through most of the year. "It remains one of the top 10 largest housing markets for sold homes," he told Phoenix Business Journal.

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