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Will your home gain value over the next 12 months? Nobody can know for sure, of course, but should recent housing trends continue, there’s concrete cause for optimism. The Phoenix metro area is a very strong, growing sector in the "Places to live" catagory.
The housing economy has suffered since 2007, knocking home values down nearly 20% nationwide. And while some areas have fared better as compared to others but, in general, home values are down. Phoenix metro area was hit very hard but at the same time we are rebounding very fast, prices are acutally moving up again in many areas.
Mortgage rates are down, too, and that’s good news for buyers in Arizona. The combination of low rates and low prices has led home affordability to an all-time high. Now is the time to buy your next new home for sure..
Some other notes to include :
There are more buyers out looking for homes today, which leads to more sales
The housing market is expected to get gradually better, month-by-month, in 2012
Foreclosures will continue to be a big part of the housing market, but are slowing.
With housing supplies shrinking, buyers throughout AZ may find their best “deals” today — before the Spring Buying Season begins in February.
However, we can’t forget that housing markets are local — not national. Each town and neighborhood has its own market drivers and prices where you live may have already started to climb. So get started today with a free mortgage pre-qualification by azmortgageinfo.com and Mike King.
For accurate, up-to-date data on the housing market, talk with a local real estate agent.
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