The Phoenix metro area was the nation’s top buyers’ market as of October 2022. That is according to the Knock Buyer-Seller Market Index, which analyzes whether the nation’s 100 largest markets favor home buyers or sellers. In Phoenix, a typical listing took 34 days to sell, the seventh-highest median days on market of any large U.S. cities. Year-over-year sales growth in Phoenix was 5.2%, which did not keep pace with the national average of 7.8%. The Buyer-Seller Market Index measures the degree the nation’s largest, most active housing markets favor either home sellers or buyers. It combines six measures of the housing market, covering six years of monthly data between November 2016 and October 2022. I suspect November and December’s number will further tip the scales towards buyers in the Valley of the Sun.
