Phoenix, AZ home prices are heating up due to low interest rates and a lack of homes for sale on the market. According to a recent article in the Wall Street Journal:
Prices are rising across the board. On a price-per-square-foot basis, prices of new homes rose by 16.9% from one year earlier in April, while normal resales gained 7.9%. Prices on bank-owned foreclosures rose by 19% while homes being sold out of foreclosure by Fannie Mae and Freddie Mac increased by 29.5%. Prices on homes sold at courthouse foreclosure auctions jumped 29.2%.
Now is a good time to find out what your home is worth and see if selling makes sense. It’s also a good time to buy because interest rates are still low and home prices aren’t out of reach just yet.
Search Arizona homes for sale in Chandler, Gilbert, Mesa, Scottsdale, Tempe and the Phoenix, AZ surrounding areas. Be ready to act fast when you see the home you like because there are multiple offers everywhere on the first day the home is listed for sale. Be prequalified with lender financing or show proof of funds if paying cash in order to give yourself the best chance at getting the home.
Whether buying or selling, the Phoenix, AZ real estate market provides opportunity for everyone. I offer a free, no hassle consultation on home valuations with buying & selling strategies. Please call 602-510-9163 or email me with any questions.
If you are not currently in the market for a home, I do appreciate your referrals as it is the main portion of my business. I take a “No Surprises or False Expectations” approach with everyone and will treat your family & friends with honesty and care.