2022 Arizona Real Estate Forecast
It’s hard to believe that 2021 is already drawing to a close.
If you’ve been considering selling your home in Arizona, you may be wondering: will 2022 be a good year to sell?
The past two years, from mid-year 2020 through 2021, have been banner years in the Arizona real estate market. Will the momentum continue in the new year?
In this post, we’ll take a look at expert thoughts on what the real estate market might look like in 2022 in Arizona. By taking the time to read this, you’ll put yourself in a better position to quickly sell your Arizona home without hassle!
Late-2021 in the Real Estate Market
In some parts of the country, the intense heat surrounding the housing market has begun to cool a bit.
Happily, that’s not the case in Arizona.
The ratio of supply and demand remains advantageous to sellers right now. Simply put, there are fewer houses available than there are people who want them. That means prices are continuing to go up.
Because of this balance of supply and demand, the housing market remains fairly hot and active in Arizona.
If you’re interested in selling your home in Arizona, this is a VERY good thing. Here’s why…
2022 Arizona Real Estate Forecast
Here are a few key things to look out for in 2022:
1. Real Estate Will Stay Hot in Metro Areas
In metro areas like Phoenix, the real estate market will likely stay very hot into 2022.
However, there’s one catch. There’s also some speculation that additional homes may be added to the market through new construction, so this could make the climate a bit more buyer-friendly.
As a seller, what does this mean? Don’t hesitate. Be sure to put your house on the market sooner than later, while you know the market remains hot.
2. The Competitive Market Will Likely Persist
Whether or not the Arizona market becomes more buyer-friendly, it’s likely to remain fairly competitive.
Even with new housing added, the demand is incredibly high right now. A lot of people want to move to Arizona, and not that many people are selling.
Plus, there are currently a lot of investment buyers out there picking up properties. This means that for individual home buyers, the market will likely be extremely competitive. Competing with the pros can be challenging!
Realtor.com reported in July of 2021 that investors nabbed up the majority of inventory in 31 of the biggest U.S. markets, including Phoenix.
3. Prices Will Continue to Rise
As of mid-2021, homes in Phoenix were regularly selling for above asking price. Once again, this comes down to the simple ratio of supply and demand. When demand is high and supply is low, people are willing to pay more to put a roof over their heads.
Prices are expected to continue to rise in 2022. But don’t try to guess the top — if you’re interested in selling your house, there’s never been a better time!
Sell Your Home For Cash!
It’s a fantastic time to sell a home in Arizona.
However, just because the timing is right doesn’t mean you’re up to the task of attending to repairs, negotiating with sellers, and dealing with the hassle of real estate showings.
Selling your home for cash is a MUCH easier and usually quicker selling option.
At Cash For Homes Arizona, we make fair and fast cash offers for homes in Arizona. Our process is respectful and speedy — exactly what sellers hope for!
Conclusion: 2022 Arizona Real Estate Forecast
Based on the current state of the market, it looks like Arizona real estate will maintain a steady sizzle into 2022.
Interested in exploring a cash sale? Reach out today!
Are you considering selling your home in Arizona in 2022?