The Phoenix housing market saw slightly increased prices in 2023, and one expert predicted that the market could see "new record highs in the coming year."
That's because the region's demand for housing remains strong, said Selma Hepp, chief economist at CoreLogic.
“The Phoenix housing market continues to outperform at the end of 2023,” Hepp said in an emailed statement. “With home prices continually posting strong monthly gains over the course of the year, Phoenix home prices have recorded another annual increase, although they still lag from the June 2022 highs. With consistently strong demand in the region, home prices are likely to fully recover in 2024, posting new record highs in the coming year.”
