We have all heard the scary news in the media recently about the coastal markets slowing down and we’re in for a “shift” or downturn in the market. The stock market is crashing; however, before you start making assumptions and believing that’s going to happen in our local Phoenix real estate market, watch this video I put together. In this video, I’ll go over our local data metrics, and why our market is different. Additionally, how our population or demand is growing, and how our suppressed supply is positively affecting our appreciation rates.
Don’t take my word for it. If you’re one that prefers to hear it from big media news, you may find these articles interesting to read. Realtor.com recently published an article for their “Forecast Top Ten”. In summary, they explain where Arizona’s growth is expected to come from and how over the last two years the inventory or supply has decreased by 8-9%.
Additionally, Inman News published this supporting article that reaffirmed our Phoenix market is expected to be top five for price growth in 2019. Click on the article to open the article.
Finally, if you are planning on using a mortgage to finance your real estate purchase, consider this, the government plans on having three different fed rate increases throughout the year. This potentially could decrease your purchasing power. That home you recently saw online with the garage and pool, may now be out of your monthly affordability range. See this image below, provided by Matt Baker with Fairway Mortgage.
You can read below for more information from Fox News, click here
If you have considered purchasing a home in 2019, don’t wait. Call me, let’s get together and put a plan in place to set you up for success.
Did you find this article or video helpful? Comment below, let me know.