“The number of homes for sale has remained very low. Job growth lowered the unemployment rate to 4.1 percent by year’s end, the lowest level in 17 years. Rising income and consumer confidence has increased the number of prospective homebuyers. The net result of rising demand and limited for-sale inventory is a continued appreciation in home prices.”
Home Prices Continue to RiseThis is great news for homeowners who have gained nearly $15,000 in equity (on average) in their homes over the last year! Those homeowners who had been on the fence as to whether or not to sell will be pleasantly surprised to find out that they now have an even larger profit to help cover a down payment on their dream homes. As we near the traditionally busy spring buyers season, there is still hope for buyers as mortgage rates remain low compared to recent decades. The report also predicted that home price appreciation will slow slightly, rising by 4.3% by this time next year.
Bottom Line: Home Prices Continue to RiseIf you are looking to enter the housing market, as either a buyer or a seller, let’s get together to go over exactly what’s going on in our neighborhood and discuss your options!
Who You Choose Makes a Difference When Buying or Selling a Home 5 Star Zillow Premier Agent Review:
John Sposato and his team are absolutely amazing! Extremely responsive. John was very aware of our needs and likes so our pool of homes to look at all really had the chance to be “The One”. John has been our realtor from when we purchased our original home back in 1999. He negotiated a great buy then and has gotten us our ask price on one sale, which was the highest per square foot purchase in the area at the time, and darn near asking price on our last sale, before this purchase. As he has been for 17 years, John and his team, is who I will be looking to for any future purchases myself and who i will be referring out when asked. Thank you again to John and his team! Your the best! Those thinking of real estate in the Phoenix Market would be wise to give John and his team a call. You will not be disappointed! I assure you that! ~ Ty Wilcox