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Phoenix housing market softens as spring selling season fails to ignite

by Admin
Cambridge Properties
April 29, 2025

Source: Phoenix Business Journal The housing market in metro Phoenix is softening at a time when the spring selling season is usually robust. "The market is feeling softer and softer, with many properly priced homes sitting unsold and with very few showings," said Greg Hague, CEO of Scottsdale-based 72Sold. In fact, said Chris Morrison, founding partner at Retsy | Forbes Global Properties, a 10-year high in inventory is creating a market that buyers have been clamoring for — despite the 7% mortgage interest...

Tariffs could bump up home prices by $10K in metro Phoenix

by Admin
Cambridge Properties
April 7, 2025

Source: Phoenix Business Journal Homebuilders are expecting tariffs on certain construction materials to impact their costs. While the effects won't be immediate, price increases could come soon. Homes currently under construction are being built with materials purchased before tariffs kicked in, said Ken Peterson, vice president of sales and marketing for Shea Homes Arizona. Peterson is expecting tariffs to eventually add $1.50 to $2 a square foot to Shea Homes houses it builds, for a total increase of anywhere between $8,000 and $10,000. "Today,...

Nimble homebuilders shun the sprawl, search for infill gems within Valley cities

by Admin
Cambridge Properties
March 31, 2025

Source: Phoenix Business Journal Density is the magic word for a growing number of homebuilders who are scouring metro Phoenix for small parcels of land on which to build boutique communities. For example, Encanto Living and Tidestone Partners just opened Encanto at Bell Park, an infill community of 35 homes on 2.5 acres of land at 12th Street and Bell Road in Phoenix. With floor plans ranging from 1,323 to 1,912 square feet, prices start in the $400,000s, said Keith Mishkin, CEO and...