Homes By Pat Ford

Phoenix State of the Market – Mid Summer

Arizona continues to be one of the best markets in the US this year. We continue to be in a Seller’s market with more people looking for homes than there are homes to buy. Property prices continue to rise. They are almost double what they were before the crash but not nearly as high at the 2005 high. This is considered a healthy economy with price increases pretty much keeping up with inflation, but not so fast as to indicate that we headed for a crash.

Interest rates are going up and likely will continue to rise, but they are still at historic lows. Rates are still very low.  So, it is still a great time for buyers to buy. FHA buyers also benefit from lower mortgage insurance since that amount has recently been decreased by the Federal Government.

I love to talk real estate, so please call me with any questions or even if you just want to chat.

Posted on August 2, 2017 at 3:23 pm by Pat Ford

Leave a Comment

  • Latest Real Estate