Here are the latest stats and information from our April market.

The April 2021 real estate market has to be the craziest I’ve seen in my 22 years in the business:

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Interest rates have decreased to 2.96%, and active inventory is significantly lower than it was last year. Active homes coming onto the market rose, but the number of homes sold rose much more, which means more homes are selling than coming onto the market.

It’s still currently a hot seller’s market, and everyone relocating here from out of state is putting a lot of pressure on home prices. Lumber costs have gone up 400%, so builders are having a difficult time keeping up with demand. Right now, housing prices in Arizona are climbing about 20% to 25% a year. If you’re considering waiting until the market changes to buy, you may get priced out for quite some time.

If you’d like to discuss making a move in this market and how to do so without becoming homeless after you sell, call 602-738-9943 or email me jason@thepenroseteam.com—we’ll talk strategy. I look forward to hearing from you soon.

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