In the month of November 2022, the median listing home price in Apache County , AZ was$206,750 trending down from $274,653 in November 2021. That is a 25% decrease in value from last year.

Rising interest rates may be effecting the the value of homes.

Higher interest rates mean higher monthly mortgage  payments, which results in less buying power for home buyers. This means buyers will not be able to afford as much home as they did a couple months ago.

For every half- percent rise in interest rates, a homebuyer’s buying power drops by about 5%. Thus driving home values down.