Have you heard or seen the news?
The real estate market is crazy right now! There are very few homes available for sale. That means it is a seller’s market and buyers are competing for the very limited number of homes that do go up for sale. We haven’t seen this low of inventory in a very long time. Even with all that 2020 threw at us, Arizona’s real estate market was one of the hottest in the country and continues to be in 2021. AND the trends show a continued climb throughout the rest of the year. Realtor.com 2021 forecast shows all of the key housing indicators going up. Researchers are saying we may even see upwards of 8% appreciation from now through September this year. THAT is amazing considering the prices have been climbing for several years now.
Why is it so crazy in Arizona?
There are several reasons the market is on fire right now in Arizona…
- Mortgage rates are still at an all-time low. Rates are still in the 3% range.
- We have a constant influx of people moving here from other states. Arizona has great weather, prices, and job opportunities.
- People spent more time at home in 2020 than ever before. Kids had school at home and people were forced to work remotely from their houses.
- The pandemic hit last year at a time when a lot of people usually move. So, people had to shelter in place and wait a while before they could move. Then, when things opened up, the inventory never had a chance to catch back up. This has caused a lot of the shortages in available homes for sale..
Today’s market is great for sellers! If you have a house to sell, now is the time. You are bound to get top dollar for your house. But, in order to win the race, it is important to hire a full-time Realtor to ensure you are protected and things run smoothly. Feel free to call us anytime with questions at 480-945-1111 or email us at firstname.lastname@example.org. We are always available to answer any questions you may have.