Over the last 12 months, the housing market in Arizona has been a rollercoaster. Home prices were rising quickly and the inventory of homes for sale was tight. Now, with average mortgage rates nearly doubled over the last year, the median sale price has dropped and active listings for sale have increased.
"Currently, the ratio between supply and demand shows the Valley moving into a balanced market," said Greg Thorell, senior vice president of residential lending at Arizona Financial Credit Union.…
