Historically Low Levels of Homes for Sale: February 2022
(Published on - 2/3/2022 4:14:53 PM)
January: Typically the month we have the highest increase of new homes put on the market for sale in the Metro-Phoenix Valley of the Sun... but not this year
The number of homes in the metro-Phoenix market for sale actually declined in most of the cities during the month. So is this a good time to buy a home here? Absolutely.
All of the experts agree that although we may not see 25-40% appreciation this year, we will most likely see around 20%. Especially in markets like the metro-Phoenix Valley, one of the fastest growing cities for the technology and healthcare sectors. Scroll down to read some of these opinions, as well as about the companies moving into the Valley. We don't have storms or snowdays to shut down our businesses or raise our insurance. And, although our homes are appreciating, our taxes and overall cost of living remains low. And believe it or not, some of us LOVE the summers here!
Do you want to buy at a time when housing is appreciating? Or when it is declining?
Graph illustrating the number of listings in Phoenix (Single Family Homes priced $500,000 and above):
Housing Market Recap
The median price of a home in the Valley increased over $100,000. Sales on homes priced under $200,000 fell 40%, while there was an increase of 68% in homes over $1 Million. Watch this 3-minute recap of 2021.
MORE HOUSING MARKET INFORMATION BELOW
One thing remains constant and is even more true than ever: Your Home Equity is a significant asset in your portfolio and you deserve expert guidance. Is Now a Good Time to Buy or Sell a Home? Denise van den Bossche has enjoyed a 36 year career in the Phoenix Metro Valley real estate. She can be reached at 602.980.0737.
