🏡 As many of you already know the Phoenix Metro housing market has been booming for quite some time!! Those that are living here, currently buying/selling homes here and/or starting businesses here are no strangers to the impact the market has had on home prices, as well as commercial real estate. Some view it as good, some view it as bad (for example, selling can feel good right now…buying…not so much!).
💰 What we are experiencing can be exciting for many, while also causing a lot of fatigue and frustration for others. Many expected mortgage rates to stay in the 2% range as the year started, and then rates went to the 3’s, 4’s and now back into the 3’s. That’s frustrating for those who take the “I’ll wait and see what the market does” or “I’ll keep renting for a while” approach for sure. A few years ago, rates were high 4% (2018) range. If you look back at the Freddie Mac interest rate survey (which has kept track of rates for the last 30+ years), mortgage rates for the past ten years have been right around 3.75% and that accounts for the past two years of historical lows. The decade before that rates were around 5.5%. My point being…people can, and still do, buy houses, even at “higher” rates😁
💫 In the snapshot I’ve provided here, we are looking back at the housing stats for February in the Phoenix Metro area. Call me today and we can discuss what your home could sell for or how I can help you achieve your real estate goals without having to develop a new “vice” just to get through the process (LOL)!!🍹 Make sure to check out my search engine on https://arizona.lisamcnealy.com/scottsdale/ to find your new dream home or https://arizona.lisamcnealy.com/valuation-form/ to find out what your current home could be worth 💫