Could a more balanced housing market be around the corner? Here's what that means for homebuyers and sellers.Home sales and prices both climbed in March, according to the latest data. And housing analysts aren’t expecting either to have fallen in April.
And buyers no longer have the upper hand in 14 of the biggest Phoenix-area cities tracked by the Phoenix-based Cromford Report. It took an average of 77 days for a metro Phoenix house to sell in March, down five days from the month before. The 30-year mortgage rate has been hovering around 6.3% this year but ticked up a bit to 6.43% at the end of April, according to Freddie Mac. That’s nearly double the rate from January 2022.About 40% of all home sales in early April included seller concessions to buyers, according to Cromford.Rebound from 2022 slowdown?