It’s been a long time coming, but good news is finally here for the Scottsdale housing market. Over the past 12 months, the Scottsdale real estate market has turned the corner. The prices of homes in Scottsdale have started to rise on a consistent basis. We are seeing better numbers than in the past four years.
Here are five positive signs that the Scottsdale housing market is definitely improving, and that it’s a good time to start buying.
1. Housing prices are on the rise across the country. Scottsdale has seen the biggest jump in home prices nationwide, as both home owners and home buyers show increased optimism in the market.
2. The amount of foreclosures has slowed. Most real estate analysts have stated that as foreclosed homes become more rare, the prices will naturally rise.
3. The number of homes for sale in Scottsdale is decreasing. Our for-sale inventory is at it’s lowest point in years. Nationwide, inventories of homes listed for sale have dropped 24 percent in one year.
4. Mortgage rates are at all-time lows. For those who qualify for a mortgage, rock bottom interest rates are a huge incentive to buy in Scottsdale.
5. Home affordability is once again setting record highs for median income families, particularly due to the record low mortgage rates. Recent studies have shown that buying a home is now more affordable than renting in almost every major city. The housing market in Scottsdale is obviously improving, because buyers can save by owning a home in Scottsdale, rather than renting.
If you have been cautious about purchasing a home in Scottsdale because of the troubled housing market, it is time to reconsider. Scottsdale, even as one of the hardest hit cities in the nation, is making a strong comeback. Take advantage while prices are still low and own your dream home or vacation home in Scottsdale.
Give me a call today at (602) 791-0536, and schedule an appointment to see homes in any Scottsdale community.
Carmen Brodeur JD
Trillium Properties, LLC
9825 E Bell Road, Suite 120, Scottsdale AZ 85260