Where should young professionals live in Phoenix?

The housing market in Phoenix has dipped slightly heading into May. While the number of homes for sale is down a bit from last year, there are more new homes coming onto the market. Expect homes to sit on the market for about two months. The typical home is listed for $498,000, which is a small decrease from last month and a bigger drop compared to last year. About one in four homes have had their prices lowered. This suggests that sellers are adjusting their expectations to meet what buyers are willing to pay. With more new homes listed and about a quarter of all listings seeing price drops, you might find more negotiating room. The average listing price is much higher at $849,438, but this number can be skewed by very expensive homes. If you are looking to buy, keep an eye on new listings and homes with price reductions. This could be a good time to find a home that fits your budget.