If 2015 was an average year for Metro Phoenix Real Estate, 2016 was better. 2017 should even be better. How?
Metro Phoenix Home Sales Finish Strong in 2016
A recent study concluded that while listing your Chandler | Gilbert | Mesa home for sale in spring gives the largest return, listing during winter comes a close second. Listing in winter attracts serious buyers who are looking now. If you’ve been considering selling your home, then this winter represents an incredible opportunity.
Home Prices Higher vs Last Year
"A restricted supply of homes and consistent demand for homes in the lower price ranges are causing strong appreciation gains, while higher priced homes are seeing limited price gains due to an increase in supply."
- Tom Ruff for ARMLS
In some areas of Metro Phoenix home prices are now higher than they were in 2006, at the peak of the housing bubble.
Today's high prices are mostly driven by a lack of supply. That's why - if you are looking to sell your home, you are in such a good position right now.
Mortgage Rates Still Low
The average 30-year mortgage rate has been steadily increasing from its low of 3.37%, recorded last July to 4.09%. Experts predict mortgage rates to go up to 5% this year.
By historical standards, today's mortgage rates are still very low. If you take a look at the volume of pending sales last January, is over 3% higher than the same period in 2015. And when you combine this with the possibility of continuing increases in the near future…it's clear why so many home buyers are eager to take advantage of the current situation.
Are you considering buying a new home in Chandler | Gilbert | Mesa or other communities in the southeast Valley area? Many people were sitting on the sidelines because of the election and the associated uncertainty. They are now re-entering the real estate market . . . get ahead of other buyers who will be competing with homes on the market.
If you’re planning to buy a home in the next 6 months, you’ll want a copy of our Free consumer guide: "7 Secrets For Saving Thousands When Financing Your Next Home.” Our exclusive report will help you avoid frustrations and costly pitfalls when buying a home. Contact Us to receive your free copy.
Even though it's only February, the spring season is definitely approaching. Spring is the hottest season for the real estate market, and you have to get moving now to take advantage of it.
To get started, check out a home value calculator I've put up on my site:
Enter your street address here to find out what your home is worth
If you'd like to get an even better estimate of your home’s true value, give me a call at 480.242.3079. Once we discuss the unique characteristics of your home, I can give you my best estimate of how much you could get for your home right now, and how quickly you could sell.
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