It’s a great time to sell a house because of the extremely low inventory we have in Phoenix. At the same time, it’s a great time to buy because interest rates are holding steady.
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A lot of people have been asking me lately about the Phoenix real estate market and what I expect to see throughout the rest of the year.
Right now, we’re in a pretty strong seller’s market. This is mostly due to a weak supply of inventory, especially for homes priced under $200,000. Buyers looking for homes in that price range are having a hard time finding available homes and sellers are cleaning up as a result.
Rates have been holding steady.
Interest rates have been holding steady over the past few months, but all the lenders that I’ve spoken with agree that they will rise over time. Right now is a good time to lock in a low interest rate if you’ve been thinking of buying a home before rates (and prices) go up even further.
If you have any questions for me about the Phoenix real estate market, give me a call or send me an email. I look forward to hearing from you soon.
