10601 North Hayden Road, Suite I-100
Scottsdale, AZ 85260
Steffy Hristova's Blog
September 2023 Metro Phoenix Real Estate Market Update
Posted On: October 1st, 2023 11:07PM
Affordability is an issue impacting today's real estate market. With over 50% home value appreciation over the last four years, and interest rates at over 7%, buying a home is a challenge for many people. But if you have the means, this is a good time to buy a home.
Home Prices are not going to come down in the Valley any time soon.
We are still the fastest growing county in America, and new home construction permits are down.As long as the population and the demand for housing continues to grow, prices will continue to rise. Simplistic observers believe that weak demand translates to weaker prices. It actually translates to weak sales. But for prices, suppy is just as important and remains drastically below normal. We will need supply to double for the market to achieve balance.
If you are thinking of buying a house, and can afford it, now is a great time. Please call me to discuss how you can achieve this goal.
