Here’s your update on the real estate market in the Phoenix area.
Here we are, already in the second month of 2019. What does the market look like in the Phoenix area?
The federal government has stopped the increase of interest rates for the near future, so consumers are feeling good at the moment. When I bought my first house over 30 years ago, I believe I paid over 10% interest; today, we’re still around 5%. That means it’s still a great time to buy a house.
The Phoenix economy is absolutely on fire. If you drive around the city, you’ll see tower cranes where they’re building high-rise buildings, and you’ll also notice that new apartments and homes are being built all over the Valley.
Even though there’s a limit to the number of quality employees out there for certain jobs (we’re currently searching for a new bookkeeper), Phoenix also has one of the lowest unemployment rates in the country.
Overall, the real estate market is booming: Unemployment is low, interest rates are affordable, and home prices haven’t started dropping. It’s a great time to be a buyer or a seller in our market.
If you have any questions about the state of the market or about your own real estate goals, don’t hesitate to reach out to me. I’d be happy to help you.