We’re seeing many changes in our market, and here are the reasons why.

Today we’re discussing the October 2020 real estate market, and the numbers are unbelievable:

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We have an increase in new homes coming onto the market, a lot fewer houses for sale, and many more sales happening compared to last year. What’s causing all of these large changes?

First, many people didn’t move when the pandemic began. Second, interest rates have fallen to historic lows; right now is likely the most affordable time to switch homes. Third, a huge number of people are moving into Arizona, primarily from California. It seems that every 10th or 15th car you see has California plates. 

“Right now is likely the most affordable time to switch homes.”

Our state is growing; not only do we have competition from local buyers but also out-of-towners relocating here. That’s causing a massive demand for housing, pushing prices up in most markets, and everyone wants to lock in rates while they’re so low. Interest rates may rise next year when all the election fuss is over. 

This is currently an excellent market in which to move. In most cases, if you’re looking to buy, you can own a house for the same payment as renting one. That’s another reason so many people are buying properties right now.

Give me a call 602-738-9943 or send an email if you have any questions or want to discuss our market further.  I’d love to talk things over with you.