Real Estate Blog!

Some Highlights 

Many people are sitting on the fence trying to decide if now’s the time to buy an Arizona home.

So far this year, mortgage rates in Arizona continue to hover around 3%, encouraging many hopeful Phoenix homebuyers to enter the Real Estate housing market. However,

Only 10% of American housing units are ready

The Phoenix housing market keeps sailing along. The only headwind that could take it off course is the lack of inventory for sale. The National Association of Realtors (NAR) reports that there were 410,000 fewer single-family homes for sale this March than in March of 2020. The key to continued success in the Arizona residential housing market is for more listings to come on the market in Phoenix. However, many Phoenix homeowners are concerned that selling their homes could be challenging for several reasons.

Homeownership in Surprise Arizona is a foundational part of the American Dream. As we look back on more than a year of sheltering in our Surprise homes, having a place of our own is more important than ever. While financial benefits are always a key aspect of Arizona homeownership, today, homeowners rank the nonfinancial and personal benefits with even higher value.

Today’s housing market is fast-paced and competitive, but that hasn’t stopped homebuyers from feeling confident about opportunities in real estate. DM me if you have questions about the steps it takes to take to buy a home this year.

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Thinking about Waiting? Here's what the experts think

• If you’re thinking that waiting a year or two to purchase a home might mean you’ll save some money, think again.
• Mortgage interest rates are currently very low, but experts across the board are forecasting increases in both home prices and interest rates.
• Buying a home now means you’ll spend less in the long run. Let’s connect to put your homebuying plans in motion before home prices and mortgage rates climb even higher.

At the beginning of the year, industry forecasts called for Arizona home price appreciation to slow to about half of the double-digit increase we saw last year. The thinking was that inventory would increase from record-low levels and put an end to the bidding wars that have driven home prices up over the past twelve months. However, that increase in inventory has yet to materialize. The National Association of Realtors (NAR) reports that there are currently 410,000 fewer single-family homes available for sale than there were at this time last year.