Arizona living has a lot to recommend it. Sun, sight and delicious food are all on offer in the Copper State. If you’ve been eyeing a dream home in Arizona, you might want to hold your horses — particularly if they’re in these areas. GOBankingRates spoke to real estate experts about a few Arizona housing markets might be heading downhill — and fast.
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Let’s dive into which spots might see their housing values take a tumble before we ring in 2025.
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Phoenix: The Not-So-Rising Sun
Phoenix has been the golden child of real estate for years, with home values soaring higher than a heat mirage. But according to Chad Breeden from Sentry Real Estate , this party might be coming to an end.
“Phoenix, Arizona, has seen prices soar over the last few years, but interest rates have been rising and too many homes are on the market,” Breeden said. “I believe things [will] cool down in the near future, and home values could start dropping by the end of 2024.”