By Angela Gonzales | Phoenix Business Journal
In what feels like a pre-Covid spring selling season, homebuilders are unveiling model homes across metro Phoenix.
Homebuyer activity is picking up, now that they’re somewhat over the shock of skyrocketing mortgage interest rates in the first half of 2022. Since then, rates have been hovering around 7%.
Ken Peterson, vice president and sales of marketing for Shea Homes Arizona, said it looks like new home prices are stabilizing after homebuilders made adjustments during the last half of 2022.
“In light of the recent challenges we have experienced in the last eight months, we are very optimistic about the future of the Phoenix market and have outstanding land positions for the next few years.”
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