Over the past year, home prices have been on the rise. This is the first year that prices have risen nationwide since 2006. Across the US, home prices are up 4.6 percent since last August, which is a good sign for the fledgling economy as a whole. In times past, Arizona has been the hyperbole of what happens in the nation. Home prices this year are no exception.
Across Arizona, prices are up 18.2 percent from this time last year. In the Phoenix metro area, prices are up 21.8 percent from one year ago. The price of homes in the Phoenix area also jumped nearly 1.5 percent from July to August.
Other states are also gaining in home prices but still trail far behind the precedent set by Arizona. Only six states nationwide saw prices drop over the last year, but the end of summer is normally slow in real estate. The fact that Arizona has seen such a huge increase during the late summer and early fall months is exciting.
For almost six years, real estate prices have been down. Homeowners have had trouble gaining equity. Homebuyers have had all the control. While there is still much ground to cover, the spike in home prices in Arizona is a glimpse of hope that the economy is turning around and that sellers could regain the drivers’ seat.
If you are considering buying a home in Scottsdale, don’t wait any longer. Scottsdale offers beautiful luxury homes in all price ranges. Enjoy over 300 days of sun each year and majestic views of the McDowell Mountains. Luxury living is right at your fingertips. Don’t wait for the prices to keep rising. Buy your dream home in Arizona today.
Give me a call today at (602) 791-0536, and schedule an appointment to see any home for sale in Scottsdale, or to list your home with Scottsdale’s number one luxury home Realtor.
Carmen Brodeur JD
Trillium Properties, LLC
9825 E Bell Road, Suite 120, Scottsdale AZ 85260