What Will the Arizona Housing Market Look Like in 2022?
Is it too late to sell your home in Arizona?
After all, late 2020 and early 2021 were absolutely insane for the Arizona real estate market.
It’s reasonable that would-be sellers might be concerned that they missed the big sales bubble.
But is it over yet, or just beginning?
In this post, we’ll take a look at what’s going on in the Arizona housing market and give a glimpse of what sellers might expect in 2022. By educating yourself on the market, you’ll be better positioned to put yourself in an advantageous selling position!
What’s Going On in the Real Estate Market Right Now?
You may have seen some headlines saying that the housing market boom is beginning to subside in late 2021.
But remember: it’s relative.
The real estate market is driven by two key forces: supply and demand. When demand is high and supply is low, it’s a recipe for a hot market.
Despite some declines in housing sales on a national level, the supply in Arizona remains fairly low while the demand remains very high. That could mean good things for home sellers in 2022…
Forecasting Arizona Real Estate in 2022
The Phoenix, Arizona area is predicted to stay hot into 2022.
At this time, prices are expected to continue to rise. However, it’s also been speculated that as more homes are built and added to the market, the climate could become more buyer-friendly.
The Market Will Likely Remain Competitive
Despite predictions that the Arizona real estate market could become more buyer-friendly, the general climate is expected to remain competitive.
Overall, inventory remains fairly low, and buyers do have competition from investment buyers. This can make things more challenging for the average individual who is looking to buy a house.
In July of 2021, Realtor.com reported that investors took away inventory in 31 of the largest U.S. markets, including Phoenix.
As of the summer of 2021, more than half of all homes sold in Phoenix sold for above the asking price. This is an indication of a highly competitive market where demand outweighs supply.
Prices are expected to continue to rise in 2022.
Here’s An Idea: Sell Your Home for Cash!
With the market continuing to issue plenty of heat in Arizona, there’s never been a better time to sell your home.
However, just because it’s a good time doesn’t mean you’re necessarily up to the task of dealing with repairs, negotiations, and all of the headaches that can come with the home-selling process.
If you’re looking for an easier solution, consider selling your home for cash.
Cash For Homes Arizona focuses on making fair, fast cash offers for homes in Arizona. We’ve got a fast and easy process that puts you in control.
The housing market remains extremely hot in Arizona — are you ready to get started on the home-selling process?
Reach out today to see how easy and quick a cash sale can be. We can’t wait to hear from you!
Are you considering selling your home in Arizona in 2022?