The Phoenix real estate market in 2008 was the poster child for being devastated by the real estate bubble. People with a million dollars could buy a city block of houses.
That is changing and it’s changing very quickly. 2015 was a decent year in home appreciation, but 2016 is expected to have prices increase by about 9%. New home sales will be a whopping 16%. This according to Realtor.com economist Jonathan Smoke.
If you’re a buyer; you’d better get started sooner rather than later. Interest rates are expected to rise and your purchasing power drops. Coupled with increased prices and that means buyers need to get off the couch and get moving; even if its the holiday season. There’s no good reason to wait. Text me at 602-790-2804 or fill out the quick request below, and we’ll get started right away.
Outlook of the Phoenix Housing Market for 2016
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