Is real estate going down in Arizona?
The housing market is looking extremely strong for the Phoenix area in 2021. Realtor.com’s most recent forecast predicts home sales in the Valley will jump 11.4% over last year’s levels, which is more than the national average.
Is now a good time to buy a house in Arizona 2020?
Current trends fairly predict that the Phoenix home prices and real estate appreciation rates in 2020 are very likely to be the same as in the past year. The national economy is super strong and the number of people moving into Phoenix is finally strong again after tanking during the Great Recession.
Are home prices going up or down in Arizona?
In fact, home prices in the Phoenix area are rising at a rate one industry data analyst called “unsustainable.” Home values are rising at a rate of 3.1% each month, according to Tina Tamboer, a real estate data analyst for the Cromford Report.
What’s the real estate market like in Phoenix AZ?
Phoenix-area home prices are forecasted to continue to rise at a brisk pace for quite some time. A panel of Zillow’s economists and real estate experts expect that Phoenix will be America’s second-hottest housing market in 2021.
Is the housing market in AZ on the rise?
Home rental prices are also on the rise, so if there’s any way to hold onto your home and rent it out, do it. There’s a large number of renters who aren’t able to find a place to live because rental inventory is low.
Where is the hottest real estate market in the United States?
Phoenix is one of the hottest real estate markets in the U.S. The Greater Phoenix housing market is booming. The buyer demand refuses to die down despite increasing mortgage rates.
What’s the average price of a house in Phoenix AZ?
Phoenix real estate market trends indicate an increase of $4,900 (2%) in median home sales and a 3% rise in median rent per month over the past year. The average price per square foot for this same period rose to $170, up from $162.
