By Angela Gonzales | Phoenix Business Journal
Homebuilding in metro Phoenix slowed drastically in mid-2022 and buyers ran for cover after rising mortgage interest rates caused potential homebuyers to hit the pause button.
Tina Tamboer, senior housing analyst for The Cromford Report, put it another way during a recent Phoenix Business Journal virtual panel discussion on the metro Phoenix housing market.
“I feel like the builders have just been driving through a school zone,” she said.
Still, despite the slowdown last year, Patty Lafferty, principal and designated broker for The Land Agency who also was on the panel, said she’s starting to see signs of stabilization as the first quarter of 2023 winds down.
See more (subscriber content)
Some stories may only appear as partial reprints because of publisher restrictions.