08/07/2023
PHOENIX #2 IN USA PEOPLE WANT TO MOVE
The bad and good news for Phoenix is that yes, property values are higher than they were. But, per the article below (click on the link below the photo), Phoenix is #2 on the list for the entire US where people want to move.
So, even though you might end up paying a bit more for a home now than what you were hoping to pay, home prices are increasing, and inventory is shrinking in the Phoenix area. This should bode well for people buying now and having a great investment down the road.
When mortgage rates start coming down, MANY more people are going to jump back into the home buying game. This will likely drive home prices up and there will be little selection to choose from. Supply and demand is the largest indicator for prices, and our supply is shrinking. Better to buy now at today's prices, and then refi when rates come down. Marry the home, date the rate.
1839 S. Alma School Road, Suite 141, Mesa, AZ 85210 - (310) 500-7256