The Truth About Arizona’s Real Estate Boom

If you’re interested in selling a house in Arizona, chances are you’ve heard about Arizona’s real estate boom .

It’s no myth: the real estate market’s hotter than ever in Arizona. 

So does that mean it’s a good time to put your house on the market? Potentially. Not every situation is the same — it’s important to choose the best option for you. At Cash For Homes Arizona, we want to help educate potential sellers on the different options available for selling a home in Arizona.

Arizona’s Real Estate Boom: Here to stay?

One big question that a lot of buyers and sellers have right now is this: how long will the Arizona real estate boom last? 

Right now, there are no signs of a slowdown. Inventory for housing is at record lows — the insanely low supply is driving up demand.

In a report by 12News, the real estate boom still has a long way to go. In fact, prices are anticipated to keep going up throughout 2021 and into 2022. 

Arizona real estate boom & market trends

What are some of the trends in the Arizona real estate market right now? 

New residents moving from out of state: While jokes have been made about “California flight,” it seems that new residents are flocking to Arizona from other states. The culture, the weather, and the great cost of living are all contributing factors…

Investment properties: Part of the reason why home inventory is so low is that many would-be sellers are choosing to hold on to properties and rent them out instead of selling. 

Prices going up: According to Million Acres, prices are going up faster in Arizona than in other places. Phoenix is the epicenter of this trend. “In Phoenix, they’re actually surpassing national numbers. The current median price clocks in at $345,000 ($15,000 higher than the country’s median), and prices are up a whopping 17% over the year.”

Should you sell your Arizona Home?

It’s clear that home prices are going up in Arizona. But does that mean that it’s the right time for you to sell? 

Only you can answer that. But here are some things to consider… 

Selling a home in Arizona

For one, it’s worth considering how you want to sell your Arizona home.

Many buyers still choose to pursue the traditional home-selling process. However, it’s worth keeping in mind that it can be expensive and time-consuming. Are you prepared to deal with negotiations, costly repairs, and showings? 

If not, you may want to consider another option — selling your home for cash. 

At Cash For Homes Arizona, we make fair “as-is” offers on homes. We don’t require repairs or costly home staging.

Sound interesting? Check out this post to learn more about the process.

Conclusion

The real estate market has never been hotter in Arizona. For potential home sellers, it could be a great time to make the move and put your house up for sale.

Of course, it’s important to consider your goals and current needs before putting your house on the market. If you don’t want to deal with the traditional home-selling process, you may want to consider selling your home for cash! 

Are you interested in selling a home during Arizona’s real estate boom?

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