It’s time for another market update, and we’ve seen some interesting changes since the last time we examined local real estate trends.
First, as you may already know, our overall Arizona market has been very strong in 2018 with respect to appreciation and sales. However, as predicted, rising interest rates have now caused an increase in inventory—and this has led to a slight slowdown in our market. This isn’t necessarily a bad thing, though.
In essence, this change simply means that sellers will need to be especially cognizant of their pricing strategies. And buyers, too, can reap certain advantages by making their move in today’s market. For instance, even though interest rates have increased, they are still historically low. This means buyers still have the opportunity to lock in a favorable rate before the Fed makes even more increases—as is expected to be the case as we head into 2019.
The bottom line is that our market is beginning to balance out. We’ve been in a seller’s market for some time, but conditions have started to level off.
Overall, there’s a lot happening in our Arizona right now. Whether you’re looking to buy, sell, or invest, there are opportunities available right now for you, and our team would be happy to help you with any of these goals.
Even if you aren’t ready to make a move immediately, we would still like to help you stay informed. We offer a number of great events, and we highly encourage you to come out and expand your knowledge of real estate. You can find more information about our team and the events we offer by visiting our website:www.klausteam.com.
If you have any other questions or would like more information, feel free to give us a call or send us an email. We look forward to hearing from you soon.
